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Tiger Woods DUI set to cost golfer $20 million in sponsorships

May 30, 2017  |  Posted by: Francesca Falzarano
Tiger Woods DUI set to cost golfer $20 million in sponsorships

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Tiger Woods may be losing millions of dollars after an early morning DUI arrest in Florida.

The golfing star currently makes $45.5 million annually in sponsorship money – including over $20 million from his Nike contract – but after the latest incident, many expect the 41-year-old to be dropped.

Despite standing by him following his very public divorce in the midst of widespread infidelity and subsequent loss of form, observers expect sponsors such as Rolex and Bridgestone to re-examine their partnership with the 14-time Major winner.

To make matters worse, it is believed that Florida police will release embarrassing dashcam video of his 3 am arrest on Monday, during which authorities said the golf star was belligerent and “arrogant.”

Tiger Woods was arrested on Monday in Jupiter, Florida on a charge of DUI. He’s pictured above in his mugshot

Before Tiger Woods addressed the arrest on Monday, some of the notorious womanizer’s ex-girlfriends defended him.

Coris Rist, a model who had a six-month affair with the man in 2006 when he was married to Elin Nordegren, said that the report of his arrest was “sad” and that he was having a difficult time.

Moreover, TMZ reported that his current girlfriend, Kristin Smith, learned of the arrest while shopping in Dallas and “went crazy,” began sobbing and said, “I knew it, I knew it.”

The gossip website said that Smith – who is the ex-wife of former Dallas Cowboys player Gerald Sensabaught – spent $5,000 in the store after sobbing and then left.

Other big money sponsors of the golfer are Bridgestone Golf who he has signed a ball deal with and TaylorMade Golf, who provides him with clubs.

Witnesses say Woods’ current girlfriend, Kristin Smith (pictured above) broke down in tears at the news her partner had been arrested in Florida

Additionally, he has profitable deals with Rolex, the Japanese pharmaceutical company Kowa, and Hero.

Forbes anticipates that Woods will lose at least three of his big contracts and will have an income drop by at least $20 million-per-year.

However, they believe that his endorsement from Nike will probably remain due to the length of their partnership, but they would also not be shocked if they dropped him after twenty years.

These endorsements make Woods $50 million a year but pale in comparison to his profits before his first scandal.

Before 2009, Woods made almost $100 million-a-year from AT&T and Nike, but after the revelations about cheating on Elin – the mother of his two children – it dropped to $70 million in 2010.

Woods’ ex-mistresses, Cori Rist (pictured in 2010), said she felt sorry for the golfer after hearing about his arrest

Forbes also reported that his current income before this Memorial Weekend are half of what they were in 2009.

Although a lot of that is due to his failure to add to his 14 Majors, Woods has also become far more expendable despite bringing wealth and attention to the game over the past two decades.

Indeed, Rist said that after his DUI arrest, she feels sorry for him.

“I saw the news, I feel compassion for the guy. I think he’s a good person, and it’s sad,” Cori Rist told the New York Post.

The two met at a nightclub in 2006 and slept together for about six months while Woods was still married. Rist said Woods never had issues with drugs or alcohol when they were a couple.

“I think he’s a good person and a good father, and he’s going through a difficult time, and I think people should support instead of applauding his downfall,” Rist added.

Tiger Woods is facing charges of driving under the influence. Police have yet to specify if he was on drugs or alcohol, if not both, though more details are scheduled to be released Tuesday.

Woods walks alongside his then-girlfriend Lindsey Vonn, son Charlie and daughter Sam and friend Mark O’Meara during the Par 3 Contest prior to the start of the 2015 Masters Tournament at Augusta National Golf Club in 2015

Sources told TMZ that the golfer was “driving erratically, all over the road.”

When Woods was pulled over in Florida, the officer smelled alcohol on Woods’ breath.

The cop asked him to blow into a breathalyzer and he declined, which results in an automatic DUI arrest and license suspension in Florida.

The source added that Woods’ team has been contacting the police department, asking if the officer was wearing a body cam.

This is the second time that Woods has gotten busted for driving under the influence.

In November 2009, two days after the National Enquirer released the story that Woods had been cheating on his wife with a New York City nightclub manager, Woods left his house after he took an Ambien and crashed his Cadillac Escalade into a fire hydrant and a tree. However, he wasn’t charged in that accident.

Following that event, several other women went to the press, alleging that they too had affairs with Woods – smearing his once pristine image.

Woods and Nordegren divorced a little less than a year later.

Since the scandal, Woods’ career has been in a decline as he’s failed to remain a major competitor and advertisers have pulled out of sponsoring him.

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