AT&T has canceled its sponsorship of Tiger Woods, becoming the third company after P&G and Accenture to do so. Bloomberg has more:
“We are ending our sponsorship agreement with Tiger Woods and wish him well,” Michael Coe, a spokesman for the biggest U.S. phone company, said in an e-mail today. AT&T began a multiyear deal in February to place its logo on Woods’s golf bag and has sponsored his annual Tiger Jam benefit concerts.
Investors in companies that sponsored Woods lost as much as $12 billion after reports of his infidelity, researchers at the University of California at Davis said this week.
AT&T hasn’t featured Woods in its advertising campaigns. Coe declined to disclose financial terms of the sponsorship agreement with Woods.
AT&T will still sponsor the U.S. PGA Tour’s AT&T National tournament, Coe said. Woods has been the host of the event, which benefits the Tiger Woods Foundation. The 2010 AT&T National is scheduled for July at the Aronimink Golf Club outside of Philadelphia.
E! Online puts the situation succinctly:
Someone over at AT&T finally realized that a man made infamous for his marriage- and career-decimating naughty text messages may not be the best person to front your cell phone service plans.