Gatorade luring Tiger with his own drink
Woods close to signing endorsement deal for reported $100 million payday
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LEMONT, Ill. - Along with being a Nike client since turning pro, Tiger Woods has endorsed everything from automobiles to financial services to watches to video games. His next deal likely will be a sports drink.
Woods said Friday he is close to signing an endorsement with Gatorade.
“We’re talking about Gatorade right now, and we’re working on hopefully finalizing a contract,” he said after a second straight 67 in the BMW Championship left him one shot out of the lead.
Golfweek magazine reported on its Web site that Woods has agreed to a five-year deal that could pay him as much as $100 million. The magazine cited sources it did not identify as saying the compensation would be based on an endorsement fee and royalties from the sales of at least three Gatorade products, included a new drink that would be named after Woods.
Woods said he considered another company, but did not say which one. Golfweek reported that Gatorade beat out a bid by Vitamin Water that was said to be worth up to $75 million.
The deal comes about four months after his longtime endorsement with American Express expired amicably, with both sides wanting to go in a different direction. Among the endorsements Woods currently has are Nike, Buick, Tag Heuer, Accenture, Gillette and Electronic Arts, which has a video game that Woods promoted last week in New York.
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