THERE'S THE RICH, THEN THERE'S
TIGER WOODS, THE WORLD'S
HIGHEST-PAID ATHLETE
THE FOLLOWING ARTICLE WAS FIRST PUBLISHED IN THE WASHINGTON TIMES
By Tim Lemke
When Tiger Woods won the Las Vegas Invitational in 1996 to record his first US PGA Tour victory, he went home with $297,000.
Multiply that by about 400, and you'll have the amount Woods will earn from golf and endorsements in 2007.
Woods has become the world's highest-paid athlete.
Tiger is earning more than twice as much money than any other sports star on the planet. By the time new daughter Sam Alexis reaches pre-school, he will have a net worth approaching $1 billion, placing him in company normally reserved for egghead software executives and real estate tycoons.
If Woods, 31, wins his own tournament this weekend, he will have topped $6 million in winnings this year and well over $70 million for his career. But those totals comprise a mere fraction of Woods' total earnings; he is likely to earn more than $100 million from endorsements by the end of the year.
Sports Illustrated recently estimated that Woods will earn $111,941,827 in 2007, with a little less than $12 million of that coming from golf winnings and appearance fees. His earnings are expected to be more than double that of boxer Oscar De La Hoya, who is ranked second on the list with earnings of about $55 million.
Woods' endorsement income is especially remarkable when you consider that he does fewer endorsement deals than many top athletes. But his endorsements are incredibly lucrative.
When Tiger Woods won the Las Vegas Invitational in 1996 to record his first US PGA Tour victory, he went home with $297,000.
Multiply that by about 400, and you'll have the amount Woods will earn from golf and endorsements in 2007.
Woods has become the world's highest-paid athlete.
Tiger is earning more than twice as much money than any other sports star on the planet. By the time new daughter Sam Alexis reaches pre-school, he will have a net worth approaching $1 billion, placing him in company normally reserved for egghead software executives and real estate tycoons.
If Woods, 31, wins his own tournament this weekend, he will have topped $6 million in winnings this year and well over $70 million for his career. But those totals comprise a mere fraction of Woods' total earnings; he is likely to earn more than $100 million from endorsements by the end of the year.
Sports Illustrated recently estimated that Woods will earn $111,941,827 in 2007, with a little less than $12 million of that coming from golf winnings and appearance fees. His earnings are expected to be more than double that of boxer Oscar De La Hoya, who is ranked second on the list with earnings of about $55 million.
Woods' endorsement income is especially remarkable when you consider that he does fewer endorsement deals than many top athletes. But his endorsements are incredibly lucrative.
His high-profile deal with Nike is expected to earn him more than $100 million, and he gets a cut of the sales of Nike Golf merchandise.
He also has a deal with General Motors and Buick worth about $40 million. Other endorsement deals involve American Express, Tag Heuer watches, EA Sports and Asahi coffee.
"There's no question that with some of the sponsors he has, it's the pick of the litter,' said Grant Carter, a banker with the sports professionals group RBC Investments, who has advised several top athletes on their finances.
"There's no question that with some of the sponsors he has, it's the pick of the litter,' said Grant Carter, a banker with the sports professionals group RBC Investments, who has advised several top athletes on their finances.
"There isn't a brand that wouldn't want to be attached to him, and he could probably name his price for any of them."
Labels: Pro Men
posted by Colin |
See story on its own page | Thursday, July 05, 2007
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