GM Axes Tiger Woods
Monday, Nov 24, 2008 | Updated 11:06 AM CDT
AFP/Getty Images
Ouch: The gold standard of athletic endorsements takes a ding.
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General Motors Corp. says it will end its endorsement deal with Tiger Woods at the end of the year.
GM said in a statement Monday that it is looking to reduce costs, and that the star golfer also wants more personal time as he expects his second child.
Woods has endorsed GM products around the world and has been closely tied to its Buick brand in the U.S., Canada and China.
GM's vice president for North American sales, Mark LaNeve, says the separation is the result of discussions earlier in the year and is not related to the company's campaign for $25 billion in loans from the federal government.
Copyright Associated Press / NBC Chicago
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