Tiger Woods – the world’s number one golfer — has been the face of Buick since 1999, but it remains unclear if his relationship with the General Motors brand will continue past 2009. Woods’ contact with Buick expires next year, with both sides exploring if it makes sense to ink a contract extension.
The negotiations between Woods and Buick have yet to begin, but Woods’ agent and Buick’s marketing manager for the golf division, Larry Peck, have reported set a timeframe for further discussions.
Despite GM’s uncertain future and near record-low stock prices, the U.S.’ largest automaker says it has no plans to cut back on any of its golf sponsorships. Woods’ current five year contract with GM is reportedly worth $40 million.
Although GM seems optimistic about retaining Woods as a spokesperson, Woods’ agent — Mark Steinberg – sounds a little more cautious about the subject. “I want to see where they are, and they want to see where we are,” Steinberg told The Detroit News.
With Buick having only one true competitive model – the Enclave – and GM’s current financial state, it’s pretty amazing that GM is even considering extending Woods’ Buick contract. The automaker is cutting spending left and right, and even recently cut some import employee programs such as tuition assistance and 401(k) matching.
