General Motors ends Nine-Year Endorsement Deal with Tiger Woods

Monday morning Tiger Woods became the most unlikely domino to be toppled by the deepening economic crisis. General Motors announced it would be ending its longstanding endorsement deal with the world's number one golfer to cut expenses and conserve cash.

A statement released by GM read: "Both GM and Woods agreed to a mutual and amicable separation that included a desire for more personal time for the 14-time major winner who is expecting his second child in late winter as well as the search for budget efficiencies during a difficult economy for General Motors." 

Given the fact that the nation's largest automaker is trying to keep as much cash on hand as possible while impatiently waiting for a government-sponsored bailout, it's unlikely that Woods' desire for more personal time was on equal footing with the company's dire need to cut costs.

Unnecessary speculation and fear mongering be damned, it's a really bad sign of the times when a company walks away from a star client that was called "the most recognized person on the plant" by one of their spokesmen this summer. I think it's a fair comparison to say that this situation would be like Gatorade severing ties with Michael Jordan following this third NBA Championship; let's not push the envelope and put Gatorade in Nike's league.

For weeks we've heard about thousands upon thousands of job cuts affecting every sector of the American economy, but when one of the most admired athletes and corporate pitchmen in the world has his name taken off the payroll, it's clear that no single person or industry is immune to what certainly looks and feels like a recession.

While Woods might have to buy one yacht this year instead of two, I believe he'll survive financially without having to stretch his dollar by substituting expensive dinners with Ramen noodles. But the common man, like Joe the Plumber for example, now has common ground with one of the most handsomely compensated athletes of all time.

Another aspect of this decision is whether or not the endorsement deal was a good investment for GM from the start. CNBC's Darren Rovell lead off his analysis by writing, "One of the worst deals in sports marketing will officially come to an end at the end of the year."

As someone in their mid-20s, I am of the opinion that GM's attempt to lower the age of its target demographic by signing Woods was a failed effort. While Woods' commercials and appearances were always entertaining and well-done, I can't say that Buick ever gained any traction with my generation.

So would GM re-up with Woods when the economy picks up? I'd say no. It looks like the end of the road for Tiger and GM. Now the question becomes who ponies up the cash for the prime signage on Tiger's golf bag.

Hey, if Nike can afford to make 18 alternate uniforms for the Oregon Ducks, why not adorn your superstar with yet another swoosh.

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