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Is Tiger Woods running out of money?
Fortune ^ | July 15, 2011 | Daniel Roberts

Posted on 07/16/2011 7:59:15 PM PDT by fightinJAG

With only a few endorsement deals left, a recent divorce settlement, a hefty house mortgage, and even a pay cut from Nike, Tiger Woods' lifestyle is looking a lot less glamorous.

FORTUNE -- When news broke a few weeks ago that Tiger Woods had signed an endorsement deal to hawk a heat rub in Japan, it was hard not to think of Lost in Translation, or of the Entourage episode when Vincent Chase goes to China to do an energy drink commercial because he's out of money.

Although Woods was likely paid in the single-digit millions for the spot -- in which he takes a swing, rubs his back, and says, "Go Vantelin!" -- it's a far cry from campaigns for PepsiCo (PEP), Gillette, and Accenture (ACN). The last time Woods showed up in Japanese TV ads was in 1997, when he promoted Asahi Wonda coffee, back before he became a phenomenon. So the deal with Kowa (maker of the rub) seems more like a moment of desperation than a return to form.

It's no secret that Woods, once king of the sports world, has suffered financially since his fall from grace. His endorsement list shrank and his marriage ended in a divorce settlement reportedly worth $100 million. But now he may actually be hurting for funds. At the very least, there are signs that he isn't generating enough to comfortably cover his costs.

(Excerpt) Read more at features.blogs.fortune.cnn.com ...


TOPICS: News/Current Events
KEYWORDS: tigerwoods
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1 posted on 07/16/2011 7:59:16 PM PDT by fightinJAG
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To: fightinJAG

I’m starting a collection for the poor boy. Contact me via FReepmail. Any contribution over $100 will be welcome.


2 posted on 07/16/2011 8:01:33 PM PDT by Revolting cat! (Let us prey!)
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To: fightinJAG

Mike Tyson managed to piss away $400 million or so.


3 posted on 07/16/2011 8:03:11 PM PDT by CreviceTool ( Obama is standing above the country above above the world, he is sort of a God = Evan Thomas)
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To: fightinJAG

More likely his investments went sour in the down economy and he can’t cover.


4 posted on 07/16/2011 8:03:37 PM PDT by AU72
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To: fightinJAG
Is Tiger Woods running out of money?

Is the ocean running out of water?

5 posted on 07/16/2011 8:06:08 PM PDT by Don Corleone ("Oil the gun..eat the cannoli. Take it to the Mattress.")
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To: fightinJAG

Tiger is just a Charlie Sheen wannabe.


6 posted on 07/16/2011 8:08:26 PM PDT by E. Pluribus Unum ("A society of sheep must in time beget a government of wolves." - Bertrand de Jouvenel des Ursins)
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To: fightinJAG
As Tiger's revenues have declined, his expenses have only climbed. To begin with, there's the reported $100 million divorce settlement. And last August, Woods took out a $54.5 million mortgage on his home in Jupiter Island, Florida. According to the public document, Woods is required to pay off the mortgage in full by January of 2016, giving him a mere five and a half years to shed the debt. He's therefore paying more than $10 million each year, including his $431,042 in annual property taxes.

That 2010 property tax information comes from the district offices of Martin County, FL, where the home Woods now occupies alone is located. The property, which Woods purchased in 2006 for $44.5 million, is valued at around $47 million (the county values the house at $26.48 million, the land at $20.5 million). His 2010 improvements to the dwelling and the property cost him $6 million, including three separate residential pools, a tennis court, a golf green with a few holes, an elevator, and a 14,736-square foot improvement to the interior of the house -- evidence that Woods is not used to living cheaply. But the pace of his home improvements has slowed, according to online records of the county appraiser's office. So far there have been none in 2011.

It sounds like Tiger's going to need a bailout.

7 posted on 07/16/2011 8:08:37 PM PDT by Huntress ("Politicians exploit economic illiteracy." --Walter Williams)
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To: fightinJAG
When you are bored enough to wonder about this crap you have already picked all of the lint out of your navel.
8 posted on 07/16/2011 8:10:28 PM PDT by org.whodat
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To: CreviceTool

I remember reading Tyson’s bankruptcy petition on www.thesmokinggun.com. One of his biggest creditors was a limo service. What got me about that was that the creditor let him get so far in the hole without cutting him off.


9 posted on 07/16/2011 8:13:09 PM PDT by Huntress ("Politicians exploit economic illiteracy." --Walter Williams)
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To: fightinJAG
Yikes. He pays more in property taxes in ONE WEEK than I pay in 18 months.

I like my life just fine.

10 posted on 07/16/2011 8:16:31 PM PDT by buccaneer81 (ECOMCON)
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To: fightinJAG
Although Woods was likely paid in the single-digit millions for the spot

woods and his agent, that is.

oh, it's you.

11 posted on 07/16/2011 8:16:31 PM PDT by the invisib1e hand ("America will cease to be great when America ceases to be good." -- Welcome to deToqueville.)
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To: org.whodat

Exactly, but I truly hope he dies penniless. He’s not a sports hero, he’s a POS.


12 posted on 07/16/2011 8:21:08 PM PDT by vette6387 (Enough Already!)
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To: fightinJAG
To fix up his financial short game, Tiger Woods is going to have to start making money again the old-fashioned way: by playing the sport he's known for.

With a messed up knee, messed up head, and a bunch of young, very talented competition who aren't the least bit intimidated by him now on tour, that scenario is unlikely.

13 posted on 07/16/2011 8:23:21 PM PDT by Mr. Mojo
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To: fightinJAG

Another innocent man brought down by a vengeful ex!


14 posted on 07/16/2011 8:25:31 PM PDT by Revolting cat! (Let us prey!)
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To: fightinJAG

He can always become a greeter at one of the Las Vegas Casinos.


15 posted on 07/16/2011 8:29:10 PM PDT by Parley Baer
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To: fightinJAG

I’ve flown over his Jupiter Island home a few times,
I’d pay a few hundred thousand for it.
Hey Tiger, want ta sell???


16 posted on 07/16/2011 8:31:51 PM PDT by Joe Boucher ((FUBO))
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To: Revolting cat!

We did work at both houses in Jupiter so I’ve seen plenty of both. Tiger wayyy overpaid for that property on the Island. If he had to sell that place today, he couldn’t get $25 million.

The house in town (for his Mother and kids) is almost laughable. Tacky greek statues, columns, elevators, etc....all within a neighborhood where homes are selling for $225K. Just weird...


17 posted on 07/16/2011 8:32:47 PM PDT by FlJoePa ("Success without honor is an unseasoned dish; it will satisfy your hunger, but it won't taste good")
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To: Revolting cat!

A talented kid who got too much too soon too easily and got taken down by hubris and maybe naivety.


18 posted on 07/16/2011 8:34:53 PM PDT by Aria ( "If we ever forget that we're one nation under God, then we will be a nation gone under.")
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To: fightinJAG; All

I consider him among the top 5 of all time. Best long iron player ever. Top 3 putter. Number 1 in mental toughness. If his knee gives him a chance he’ll be competitive, for sure. He’s made mistakes, so have I. I wish him well.


19 posted on 07/16/2011 8:35:20 PM PDT by TwoSwords (The Lord is a man of war, Exodus 15:3)
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To: fightinJAG

Best thing he could have said when his troubles came to light,,,,’’You all have enjoyed kissing Bill Clintons’ butt for 20 plus years, you can just kiss mine for the next 40 years.’’ It would have made him money.


20 posted on 07/16/2011 8:35:53 PM PDT by Waco (Nominate Palin or forget 2012 you lost)
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To: Huntress

“a golf green with a few holes”
Crappola,
It has many greens and holes to practice from and the pools? Oh the pools.
I regularly fly along Jupiter Island.
This is about the finest spread of the rather stuffy island.


21 posted on 07/16/2011 8:36:18 PM PDT by Joe Boucher ((FUBO))
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To: vette6387

I do think you need medical help, such hate is not healthy.


22 posted on 07/16/2011 8:36:51 PM PDT by org.whodat
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To: fightinJAG

It reminds me of Tom Selleck in the flick “Mr. Baseball” doing commercials for a Japanese energy drink: “BIG HIT - HAPPY BODY!”


23 posted on 07/16/2011 8:52:05 PM PDT by Tucker39
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To: fightinJAG
Tigger, has a mortgage... how much does a house have to cost that a multi-hundred millionaire like him has an outstanding loan???
24 posted on 07/16/2011 8:55:25 PM PDT by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: fightinJAG

Why doesn’t he endorse Tiger Balm?


25 posted on 07/16/2011 8:56:01 PM PDT by OrangeHoof (Obama: The Dr. Kevorkian of the American economy.)
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To: org.whodat

“When you are bored enough to wonder about this crap you have already picked all of the lint out of your navel. “

I was always taught not to go picking at my navel, lest I spring a leak and go flying about the room.


26 posted on 07/16/2011 8:56:18 PM PDT by USMCPOP (Father of LCpl. Karl Linn, KIA 1/26/2005 Al Haqlaniyah, Iraq)
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To: Parley Baer

He can always become a greeter at one of the Las Vegas Casinos.”

I hear some of the Wal-Marts are also looking for greeters.


27 posted on 07/16/2011 8:57:43 PM PDT by Grams A (The Sun will rise in the East in the morning and God is still on his throne.)
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To: vette6387
Exactly, but I truly hope he dies penniless. He’s not a sports hero, he’s a POS.

I've seen a thousand or more useless, evil, meaningless, inane, asinine comments on FR....but yours is now my all time pathetic statement.....please get a handle on your emotions......you are nuts

28 posted on 07/16/2011 9:03:50 PM PDT by terycarl
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To: fightinJAG

What is it about sports hero’s?

They earn lots of money, blow it all, and live on the cheap for the rest of their lives.

George Foreman built a second life on his grill:

Maybe Woods can develop a new pants fly opener!


29 posted on 07/16/2011 9:05:05 PM PDT by Noob1999
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To: Mr. Mojo
With a messed up knee, messed up head, and a bunch of young, very talented competition who aren't the least bit intimidated by him now on tour, that scenario is unlikely.

Agreed. The young guns on the Tour now view him as an old man whose skills are on the wane. Not just an old man, mind you...but a stupid one as well. The reason: none of Tiger's competitors have permitted their need for self-indulgence to cost them upwards of $1 billion.
30 posted on 07/16/2011 9:05:43 PM PDT by Milton Miteybad (I am Jim Thompson. {Really.})
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To: TwoSwords

I said it when he first got caught, he’s done. He wont catch Jack. Too many distractions and his age is now a problem. 5 more majors would be a miracle.


31 posted on 07/16/2011 9:06:29 PM PDT by PA-RIVER
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To: PA-RIVER

I don’t disagree. People who haven’t had knee problems don’t understand. However, if he got the right orthotics he might be back to his old self. I don’t like him, personally, but he’s probably the best of all time. Has no weakness in his game. Worked his ass off to get there. Impressive person.


32 posted on 07/16/2011 9:13:13 PM PDT by TwoSwords (The Lord is a man of war, Exodus 15:3)
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To: OrangeHoof

I was just going to ask a previous poster, who said Tiger was just a Charlie Sheen wannabe, what product they BOTH could endorse that would make sense and be mutually beneficial. YOU have given me an idea with the brilliant
Tiger Balm-—it would be a jar of Tiger Balm with BOTH their pictures on it. The motto on the jar would be

TIGER BALM——now with BLOOD!


33 posted on 07/16/2011 9:18:12 PM PDT by supremedoctrine ("uncurtaining the night,I'd let dark glass/hang all the furniture above the grass." -Nabokov)
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To: Huntress; jessduntno; onedoug; cincinnati65; PISANO; IonImplantGuru; Rummyfan; Aussie Dasher; ...

When you look at that debt service and his lack of performance, I can see the problem.


34 posted on 07/16/2011 9:27:49 PM PDT by Baynative (Are you a Free Republic monthly donor yet? If not, why?)
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To: PA-RIVER; Milton Miteybad

It started even before he got caught, at the 2009 PGA Championship. Eldrick had a 2-shot lead over Y.E. Yang going into the final round, and lost the tourney by 3 (to Y.E.). The first time he’d ever blown a major in the final around, and it was to the guy he was playing with. Lost his aura of (near) invincibility after that. Three months later, personal disaster struck.

Yep, the chance of him catching Jack’s record is pretty close to ...jack. Way too much working against him.


35 posted on 07/16/2011 9:27:58 PM PDT by Mr. Mojo
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To: fightinJAG
Woods took out a $54.5 million mortgage on his home

Warren Buffett or the late Sam Walton would not be too impressed.

36 posted on 07/16/2011 9:38:23 PM PDT by tflabo ( to have been selected)
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To: vette6387

Okay with me if this happens. He is scum!


37 posted on 07/16/2011 9:39:29 PM PDT by rawhide
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To: Mr. Mojo

“Yep, the chance of him catching Jack’s record is pretty close to ...jack. Way too much working against him.”

Give me some odds. I’ll propose a bet.


38 posted on 07/16/2011 9:39:58 PM PDT by Rembrandt (.. AND the donkey you rode in on.)
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To: Baynative

I wonder why the lender lent him that much in the first place. Unless they have liens on some other collateral as well.


39 posted on 07/16/2011 9:40:27 PM PDT by Huntress ("Politicians exploit economic illiteracy." --Walter Williams)
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To: Rembrandt

4 more majors to catch Nicklaus, 5 to beat him. Even under the best of conditions for Eldrick, that could take many years. And the conditions, as I outlined, are disastrous — aging fast, lost confidence, swing problems, torn up knee, and stiffer competition. And probably steroid withdrawal to boot.

You think he’ll catch him? Fine, then we’ll make gentlemen’s bet. But it’ll probably be at least 10 years before we know who won. ...if either of us remembers by then.


40 posted on 07/16/2011 9:56:53 PM PDT by Mr. Mojo
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To: Chode
Have you seen the Woods Estate in Jupiter?
41 posted on 07/16/2011 10:01:47 PM PDT by harpu ( "...it's better to be hated for who you are than loved for someone you're not!")
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To: terycarl

Now wait, I was called a bleeding heart liberal the other day! I think that was worse!


42 posted on 07/16/2011 10:02:36 PM PDT by proudtobeanamerican1 (A house divided against itself cannot stand.” Abraham Lincoln)
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To: harpu
ok...
43 posted on 07/16/2011 10:13:20 PM PDT by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: fightinJAG

Tiger needs to raise his debt limit...


44 posted on 07/16/2011 10:20:43 PM PDT by tet68 ( " We would not die in that man's company, that fears his fellowship to die with us...." Henry V.)
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To: proudtobeanamerican1
There are a few important things his father never taught him. Amongst them are humility and to keep his zipper up.
45 posted on 07/16/2011 11:18:23 PM PDT by saintgermaine
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To: org.whodat
When you are bored enough to wonder about this crap you have already picked all of the lint out of your navel.

I don't know. I've always found stories of squandered wealth interesting, if for nothing more than the lessons they provide.

Just the question why anybody thinks they need a $50 million house, no matter how much they make, is interesting to me on it's face. Why would anybody want the trouble of that much house? I bet tiger is thinking the same thing now.

46 posted on 07/16/2011 11:19:20 PM PDT by Minn (Here is a realistic picture of the prophet: ----> ([: {()
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To: fightinJAG

Maybe Buddha will crap some money out for him.


47 posted on 07/16/2011 11:25:43 PM PDT by WKUHilltopper (And yet...we continue to tolerate this crap...)
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To: Mr. Mojo

Don’t bother, the Tiger Woods fans out there will NEVER give up hope that he might pass Jack Nicklaus. Woods will be pushing 65, still stuck on 14 majors, and they’ll be saying, just give him a little more time, he’s almost there...almost there...just a few more months...


48 posted on 07/16/2011 11:42:30 PM PDT by Newtoidaho (Fight organized crime. Vote out all incumbent Democrats!)
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To: Newtoidaho

Yeah, you’re probably right.

Not only will Woods not catch Nicklaus for major tourney victories, but he may not even catch him for 2nd place on the all-time PGA tour wins list. (Snead is 1st with 82, Jack is next with 73, and Eldrick is 3rd with 71).


49 posted on 07/16/2011 11:53:52 PM PDT by Mr. Mojo
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To: Minn

Might be time for Tiger to buy a white Bronco.


50 posted on 07/17/2011 2:22:20 AM PDT by EQAndyBuzz (As long as the MSM covers for Obama, he will be above the law.)
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