Tiger Woods' Endorsement Deals Are Toast
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And it's a strong indicator that Woods will have extreme difficulty replacing them as clients, as the number of "mistresses" linked to him rose to 11. The harem includes such advertising-unfriendly characters as porn star Joslyn James (pictured), a restaurant waitress who likes rough sex in parking lots, and a woman who arranges affairs for the golfer, according to Deadspin.
Previously, Woods could have expected to take the Michael Phelps route. After the swimmer was photographed smoking a bong, he returned to the advertising scene about eight months later.
All of that is now in jeopardy.
Ad Age suggests -- in an article with the unfortunate headline "Why Tiger Is Still the Best Gillette Can Get" -- that advertisers will use the scandal as leverage against him, lowering the prices they pay him and squeezing him for contract givebacks. David Schwab, VP-managing director of Octagon's celebrity acquisition division, is quoted:
"Not only does it affect Tiger, it affects the entire industry. When celebrities do things that negatively affect a corporate deal, the legal terms typically end up more in the corporation's favor the next time. So if a celebrity is paid $10 as an endorser with no morals clause, the company might come back next time and say 'We'll do it for $5 and a morals clause.'"Morals clauses are standard contract terms that allow advertisers to renege on their deals with celebrities if the stars behave badly and ruin their ad plans -- as Tiger has done. Woods will never be able to sign a major deal again without a strict morals clause.
Bonus: If you spotted the worst PR advice in the world coming from Dean Crutchfield, chief engagement officer at branding agency Method:
"If anything [Mr. Woods] is the one Gillette should put in front of the pack and say, 'Now we have a real personality,'" ... "In fact, 'The best a man can get' just got real. ... That's something they can capitalize on and celebrate: real people doing real things. These are real men leading real lifestyles, lifestyles that many of us would want."Oh yes. I'm sure lots of people want Woods' life right now.
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