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Shunning Gambling Relationship

Tiger Woods’ name and face were once worth millions to the advertising departments around the world. The pro golfers face has adorned the ad campaigns of some of the most elite sporting equipment in the world as well as major international designer brands. Now it seems as though his image may be relegated to the world of online casinos and betting sites as sponsorships began to crumble in the wake of the media storm that focused on Woods’ extramarital affairs. As more and more affairs came to light, sponsors pulled out of contracts; notably, Woods lost a contract with watch designer Tag Huer. Paddy Power though has been willing to fill in the gap of sponsorship dollars flowing into Woods’ pockets – but despite the dearth of other deals on the table, Woods’ representatives have declined the $75 million sponsorship offer from the well respected sports betting site.

Paddy Power is the top bookmaker out of Ireland and the company proudly serves a huge UK market as well. Paddy Power is not known in the market for negotiating huge sponsorship deals – in fact, this will be one of this magnitude if the deal were to take place. It would also be a first, Woods has never before associated his name and brand with the online casinos and betting industries. Interestingly though, although Woods’ management are denying that negotiations are in place with Paddy Power, the online betting company continues to assert that it is in the initial stages of negotiations with Woods’ representatives, International Management Group.

Paddy Power is willing to fill in the gap between the sponsorships that Woods has lost, but to do that Woods and his representatives will have to firmly get over the link to online casinos and the internet gambling industry. There is really no telling how far along are the negotiations, but the situation will be closely watched for new developments.