Tiger Woods Scandal Cost Sponsor Shareholders $12 Billion
From the NY Daily News:
Tiger Woods is not the only one who blew big bucks with his image-busting cheating spree.
His losses are chump change compared with the up to $12 billion that the scandal has cost shareholders of his big-money sponsors like Nike, AT&T and Gatorade, a study revealed Monday.
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“Total shareholder losses may exceed several decades’ worth of Tiger Woods’ personal endorsement income,” said study author Victor Stango, a professor at the University of California Davis.
The study compared the stock prices of nine Woods sponsors with competitors and the overall market after the scandal erupted last month.
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