TWO US academics have calculated that Tiger Woods' infidelities and his "indefinite leave" from golf have cost his sponsors billions in lost wealth. The University of California economic academics, Christopher Knittel and Victor Stango, found that Woods' sports-related sponsors suffered the most from the public outing of the golfer's "transgressions".
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Tiger Woods' marital infidelity costs $16 billion
Tiger Woods' marital infidelity has destroyed as much as $12 billion (NZ$16 billion) in stock value, according to two US professors. The study from the University of California, Davis economics professors focused on nine sponsors: Accenture, American Express, AT&T, Tiger Woods PGA Tour Golf (Electronic Arts), Gillette, Nike, Gatorade, TLC Laser Eye Centres and Golf Digest. It stated that shareholder value fell 2.3 percent since Woods' car accident on November 27 unleashed a stream of sexual revelations.
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