WDET News
- GM Ends Endorsement Deal With Tiger Woods
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Nov 24, 2008Automotive & Business - Link to Audio
General Motors has announced that it’s ending the company’s endorsement deal with Tiger Woods. Detroit Public Radio’s Jerome Vaughn has more.
SOQ
GM says the decision to end Woods’ endorsement of its vehicles was amicable and mutual.
Company officials say the move is part of efforts to cut costs. The Detroit automaker lost $2.5 billion in the third quarter – and says it could run out of cash within weeks without federal assistance.
GM, Ford, and Chrysler are in the midst of a campaign to convince Congress to provide them with $25 billion in loans.
Tiger Woods says he’s looking for additional personal time with the upcoming birth of his second child. The world’s most popular golfer said in a written release that he’s proud of the relationship he’s had with General Motors.
Woods has been a GM spokesman for nine years. The endorsement deal ends on December 31st.