Golfer Tiger Woods has hit another jackpot for the wrong reason. He was arrested while driving his 2015 Mercedes in Florida early on Monday, apparently on suspicion of driving under the influence (DUI) on Memorial Day. Police released a mugshot of Woods, looking unshaven and unkempt, following his arrest in the town of Jupiter.
Police records show the 41-year-old golfer was pulled over at about 03:00 local time (07:00 GMT) nears his home in Jupiter and later taken into custody. He was released from Palm Beach County jail at 10:30 local time. The record says that he was released “on his own recognisance”, meaning he promised in writing to co-operate with future legal proceedings.
Later, Woods said in a statement released by his spokesman that alcohol was not a factor in his arrest but apologized and added that he took full responsibility. He blamed “an unexpected reaction to prescribed medication” for his arrest. Woods, who has won 14 major tournaments, second only to Jack Nicklaus, said – “I want the public to know that alcohol was not involved.”
He explained – “What happened was an unexpected reaction to prescribed medications. I didn’t realize the mix of medications had affected me so strongly. I would like to apologize with all my heart to my family, friends and the fans. I expect more from myself, too. I understand the severity of what I did and I take full responsibility for my actions.”
Woods has previously made headlines away from the golf course. His private life unravelled in late 2009 over allegations about affairs with several women and ultimately led to the end of his marriage. Those allegations followed by an early morning car accident outside his Florida home, which spread into a full-blown sex scandal which then transformed his life and career upside down.
As many as 10 sex partners – that was the jaw-dropping revelations when the sex scandal finally hit Tiger Woods in 2010. Even then, the golfer topped the Forbes’ magazine 2010 list of the top 50 earning athletes in the world at US$105 million. It was Woods’ ninth consecutive year topping the list, although his total earnings were down 40% from US$128 million in 2008.
When the sex-hungry Woods finally divorced with his wife Elin Nordegren, the Swedish ex-model was reportedly walked away with a US$110 million settlement, down from initial speculations of US$750 million. But losing a sixth of his fortune wasn’t the worst thing that had happened to womanizer Tiger Woods. It was the lucrative endorsement deals.
Woods’ scandal-plagued 2009-10 season saw Golf Digest, a partnership spanning from 1997 through 2010, ended. One of his longest-running sponsors, video game maker EA Sports, announced it was splitting with Woods in late 2013. Others who dropped out – AT&T, Accenture, Gatorade, Titleist, American Express, Gillette, Tag Heuer, General Mills, Buick and TLC Laser Eye Centers.
Still, 6 years later by end of 2016, Tiger Woods was stubbornly wealthy, ranking No. 7 on Forbes first ever list of America’s Wealthiest Celebrities with an estimated net worth of US$740 million. Since turning pro in 1996, Woods has earned a staggering US$1.4 billion from prize money, endorsements and fees from appearances and golf course designs.
In fact, less than 10% of his main source of wealth comes from prize money. Even after his sex scandal, Woods still managed to bank US$45 million from endorsements and course design fees in the 12 months ending June 2016 – down from average US$100 million annually at the peak of his career in the late 2000s (before the explosion of his sex scandal).
After long-time partner Nike announced plans to get out of the golf equipment business, Tiger Woods inked a deal with Bridgestone to play their golf balls. Woods still maintains his relationship with Nike for apparel, not to mention other sponsors such as Kowa, Hero Motor, Upper Deck, TaylorMade and Rolex. He has also added another sponsor – Hansen Natural’s Monster Energy.
Now, some of his sponsors, especially Rolex and Bridgestone, might re-examine their relationship after Woods’ latest arrest over DUI. The golfer was thought to have been caught in recording captured by Florida cops dash cam, of which the footage, if released, would show how Tiger turned arrogant after officer smelled alcohol on Woods’ breath and asked him to blow into a breathalyser.
Nike, which contributes more than US$20 million annually to Woods’ banking accounts, is unlikely to dump the golfer. When Woods turned pro and signed with Nike in 1996, the company didn’t even have a golf division, and had to create “Nike Golf”, its golf club business, just for Woods. That speaks volumes about the relationship between Nike and Woods.
With the exception of Nike, one Forbes sports industry expert, however, predicts that Tiger Woods could be looking at income losses of at least US$20 million a year if three of his main sponsors decide to pull out. When that happens, the 41-year-old serial cheater, who doesn’t regret cheating on his ex-wife Elin, could see his annual revenue halved.
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May 30th, 2017 by financetwitter
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All of us are out of adjectives. But he is still a very lucky guy. He should thank the Police Officer who stopped him. It could have been worse. He could have killed an innocent person.