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To: em2vn
"When it comes to money, Tiger isn't close to Norman's level."

Golf's first Billion-Dollar Man

~snip~

"In the furious run-up to Woods' "Hello World" news conference on Aug. 28, 1996, many agents estimated that the three-time U.S. Amateur champion might get $6 million a year in deals. IMG got twice that by bringing into the talks Nike, a company that in 1996 had very few golfers on staff and no golf equipment to sell. They were, as Johnston said, "the right people." At a stockholder meeting in 2000, shortly after Tiger's deal with Nike was increased to $20 million a year for five years, Phil Knight, the co-founder and then CEO, was asked if there weren't a better way for the company to spend $100 million. Knight replied simply: 'No.'"

"Five years later, Woods is on the verge of becoming golf's first $1 billion player, and perhaps the first billionaire to accumulate his wealth as an athlete."

"Woods is No. 1 among the Golf Digest 50, an all-encompassing world-earnings list that includes every dollar tour players earned on and off the golf course in 2005 (see accompanying chart), heading the list as he has every year since its inception in 2004. Woods earned almost $12 million in prize money last year and another $75 million off the course to increase his career income to more than a half-billion dollars."

"In little more than nine seasons as a professional, Woods has earned $66 million in prize money worldwide, some of it as unofficial earnings. Research by Golf Digest revealed that over that same period Woods has earned another $481.8 million in endorsements and appearance fees. Assuming Woods continues on the same earnings trajectory, Golf Digest projects that Woods will reach the $1 billion mark in career earnings by the end of 2010. According to financial experts, Woods' net worth should surpass $1 billion by 2013, if not sooner."

yitbos

143 posted on 10/11/2006 3:37:33 PM PDT by bruinbirdman ("Those who control language control minds. " - Ayn Rand)
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To: bruinbirdman

I view endorsement contract figures with the same scepticism as I view sports contracts and per movie pay figures for actos. Each of them are inflated for maximum publicity.
If Golf Digest is correct, Tiger must have a tremendous tax accountant and agents who work for nothing.


159 posted on 10/11/2006 4:30:49 PM PDT by em2vn
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To: bruinbirdman

I view endorsement contract figures with the same scepticism as I view sports contracts and per movie pay figures for actos. Each of them are inflated for maximum publicity.
If Golf Digest is correct, Tiger must have a tremendous tax accountant and agents who work for nothing.


160 posted on 10/11/2006 4:30:51 PM PDT by em2vn
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