Tiger Woods Ends Sponsorship With GM

Tiger Woods and General Motors have mutually decided to end their sponsorship of GM's Buick division on Monday. It is said that Tiger was looking for a sponsorship with more exposure and GM had to cut costs due to their financial situation. GM is also cutting their Cadillac sponsorship of the Master's Golf Tournament. It is clear that that financial crisis is having an effect on the business surrounding sports. Sports teams have been forced to create ticket sales promotions (here and here) to increase sales. Everyone always wondered why Tiger endorsed a car like Buick instead of something like Mercedes, Lexus, or BMW. Maybe one of these will be next now that Tiger is lacking an automobile sponsorship.