Tiger Woods' Endorsement Deals Are Toast

(MoneyWatch) 

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Tiger Woods has not been seen in a TV ad since Nov. 29, according to Bloomberg. The not-surprising news indicates that Woods' deals with endorsers are in a state of disarray, with advertisers unable to capitalize on them.

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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