Tiger Woods has been a Buick spokesman since 1999, but both General Motors and the greatest golfer of all time are in a holding pattern regarding a new endorsement contract. Tiger's current deal, which expires in 2009, was reportedly for $40 million over five years. Though getting Tiger was a coup for Buick, many wonder why GM would give the world's most popular athlete to its low volume Buick brand instead of Cadillac or even use him across multiple marques.
Both GM and Tiger are taking a wait-and-see approach towards negotiations on a new contract, with both sides having met once and agreed only on when they should meet a second time. The automotive landscape is tenuous at best, and GM is taking a major hit on the sales floor and on Wall St., which could make retaining Mr. Woods more difficult. We're pretty sure Tiger will end up hocking cars for one automaker or another, so the General better find some funds fast if it doesn't want to lose the 14-time majors champion to another brand.
[Source: The Detroit News]