Tiger Woods loses another major sponsor, Gatorade

A spokeswoman for the sports drink Gatorade, sold by PepsiCo Inc, said Friday it was ending its sponsorship relationship with the scandal-plagued golf star, who made a lengthy public apology last week for his infidelities.

Woods loses another endorsement
In a statement Friday, Gatorade spokeswoman Jennifer Schmit said the sport drink maker has officially cut its marketing ties with the 34-year-old golfer, who is in rehabilitation and remains on a self-imposed break from the game.

"We no longer see a role for Tiger in our marketing efforts and have ended our relationship," Schmit said in a statement. "We wish him all the best."

While Gatorade has discontinued its endorsement deal with the troubled golf star, it would continue its relationship with the Tiger Woods Foundation, Schmit said.

Gatorade had quit making its Gatorade Tiger Focus sports drink in November, before the scandal broke and his marital problems and infidelities became known.

The PepsiCo Inc. beverage subsidiary said at the time the decision had nothing to do with the pro golf superstar's then-fresh sex scandal.

Contract ends early
Woods had signed a reported five-year, $100 million deal with the company in 2007, according to the New York Daily News. The company spokeswoman declined to say whether his contract was terminated early because of his tarnished public image.

Gatorade’s decision to completely drop Woods as a product endorser comes a week after his televised apology to the world, when he apologized for cheating on his wife with several women and said he was unsure when he would return to golf.

During his 13½-minute statement last week, Woods apologized publicly for his string of marital infidelities and said he alone is to blame for the indiscretions, which first came to light after his infamous single car crash on Nov. 27.

Meanwhile, Woods' agent Mark Steinberg has responded to Gatorade’s decision to dump the golfer, saying: "We have been in discussions with Gatorade, and while we are disappointed Gatorade has decided to not continue with Tiger in their marketing plans, we appreciate their continued involvement with Tiger through his foundation."

Third loss for Woods
Gatorade is the third major endorsement the golfer has lost, following AT&T and global consulting firm Accenture.

Accenture was the first to drop their sponsorship contract with Woods on Dec. 13, stating he was no longer the "right representative" for the company, USA Today reports.

Companies still stand by him
Nike, NetJets, Upper Deck and TLC Vision and Electronic Arts, the game developers who have excessively used Woods for endorsing their sports games, have maintained their relationships with Woods.

Swiss watchmaker Tag Heuer and Procter & Gamble's Gillette razor products have stopped running ad campaigns featuring Woods but have not announced any contract terminations.

Woods is known to have been earning around $110 million a year from his endorsements.