is already a billionaire, so we're sure it's not hurting him too bad financially that he's losing some endorsement deals. But it may hurt his ego a bit. After reports that Swiss watch company TAG Heuer
was dropping Woods from its ads and U.S. campaigns, the company released a statement saying it plans to stand by Woods but will be limiting his image use.
"The partnership with Tiger Woods will continue," said President and CEO Jean-Christophe Babin in statement, "but we will downscale the use of his image in certain markets for a period of time, depending on his decision about returning to professional golf. We will continue to actively support the Tiger Woods Foundation."
Babin said that the company will be using Leonardo DiCaprio and other celebrities in its ads.
This is the third company that has made moves to distance itself from Woods. Consulting firm Accenture
was the first major company to sever ties with the golfer. That endorsement deal was apparently worth a whopping $7 million a year.
"After careful consideration and analysis, the company has determined that he is no longer the right representative for its advertising," Accenture told the New York Daily News
, adding that "it wishes only the best for Tiger Woods and his family."Gillette
has also said it will back scale back its ads featuring Woods.
"As Tiger takes a break from the public eye, we will support his desire for privacy by limiting his role in our marketing campaigns," Gillette said in a statement.
Although there wasn't an official announcement, AT&T
has also slowed its Woods-related campaigns, too. Analysts believe a breakup between the two is on the way. Tiger still has deals with Nike
, Upper Deck
and several other companies. Who will be next to drop Tiger?