Feb 26, 2010, 6:00 PM EDT
Yeah, apparently Gatorade wasn’t all that impressed with Tiger Woods’ televised apology last week. If you know me, then you know that I painstakingly monitor my soft drink news. That’s why I can tell you that PepsiCo Inc. has dropped Tiger and his considerable baggage at the nearest bus stop. Tiger and Gatorade are no more. From MSNBC:
“We no longer see a role for Tiger in our marketing efforts and have ended our relationship,” a Gatorade spokeswoman said. “We wish him all the best.”
The sticky sweet soft drink follows AT&T, Accenture and Gillete as major sponsors that have dropped Woods, and you know how these things go. Once one steer is spooked, they tend to stampede.
The Gatorade announcement doesn’t comke as a real surprise, and may not have anything to do with Tiger’s Friday TV appearance at all. Accoprding to a recent study by University of California, Davis finance professors, shareholders of such Tiger Woods-endorsed stocks as Nike and PepsiCo have lost between $5 billion to $12 billion in market value since the sex scandal broke. Nike, which continues to stand by Tiger, is doing so presumably because they have nowhere else to go. Are you going to buy Stewart Cink-endorsed golf shirts? But Gatorade isn’t as intricately linked to the Tiger brand.
… And suddenly, the “performance art” by that fake Tiger Woods Gatorade label guy seems very wise and prescient. If PepsiCo had embraced his idea, they might still be in the Tiger Woods business.
Gatorade drops Tiger Woods as spokesperson [MSNBC]
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