Skip to comments.Is Tiger Woods running out of money?
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 ...
I’m starting a collection for the poor boy. Contact me via FReepmail. Any contribution over $100 will be welcome.
Mike Tyson managed to piss away $400 million or so.
More likely his investments went sour in the down economy and he can’t cover.
Is the ocean running out of water?
Tiger is just a Charlie Sheen wannabe.
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.
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.
I like my life just fine.
woods and his agent, that is.
oh, it's you.
Exactly, but I truly hope he dies penniless. He’s not a sports hero, he’s a POS.
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.
Another innocent man brought down by a vengeful ex!
He can always become a greeter at one of the Las Vegas Casinos.
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???
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...
A talented kid who got too much too soon too easily and got taken down by hubris and maybe naivety.
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.
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.
“a golf green with a few holes”
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.
I do think you need medical help, such hate is not healthy.
It reminds me of Tom Selleck in the flick “Mr. Baseball” doing commercials for a Japanese energy drink: “BIG HIT - HAPPY BODY!”
Why doesn’t he endorse Tiger Balm?
“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.
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.
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
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!
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.
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.
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!
When you look at that debt service and his lack of performance, I can see the problem.
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.
Warren Buffett or the late Sam Walton would not be too impressed.
Okay with me if this happens. He is scum!
“Yep, the chance of him catching Jacks record is pretty close to ...jack. Way too much working against him.”
Give me some odds. I’ll propose a bet.
I wonder why the lender lent him that much in the first place. Unless they have liens on some other collateral as well.
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.
Now wait, I was called a bleeding heart liberal the other day! I think that was worse!
Tiger needs to raise his debt limit...
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.
Maybe Buddha will crap some money out for him.
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...
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).
Might be time for Tiger to buy a white Bronco.