Bloomberg is reporting that TAG Heuer ended its endorsement relationship with Tiger Woods when his contract expired last month. Woods’s agent Mark Steinberg confirmed in an e-mail to Bloomberg that the agreement has ended.
TAG Heuer signed Woods in 2002. In November 2009, Woods was involved in a now infamous one-car accident. In the days following that accident, several women came forward claiming to have had affairs with Woods. On December 11, 2009, Woods announced he would take an indefinite leave from professional golf to focus on his marriage. On December 13, TAG Heuer issued a statement saying that its relationship with Woods was based on his golf game, not his social life.
Woods has not won a tournament since 2009. On October 31, 2010, Woods lost his number one ranking to Lee Westwood. Woods’s golf winnings fell from $10.5 million in 2009 to $1.3 million in 2010. So far this year Woods has won $629,000.
Woods finished 37th yesterday at the World Golf Championships Bridgestone Invitational, 18 shots behind the winner, Adam Scott, who is now using Woods’s former caddie Steve Williams. Woods is currently the 30th ranked golfer in the world, his lowest ranking since 1997 when he was ranked 33rd.