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Tiger Woods Loses Accenture Sponsorship

NEW YORK ( TheStreet) -- Tiger Woods has officially lost his first sponsor over the scandal that has wreaked havoc on his once squeaky-clean reputation.

On Sunday, Accenture (ACN - Get Report) officially announced that it would be ending its six-year relationship with Woods.

"After careful consideration and analysis, the company has determined that [Tiger Woods] is no longer the right representative for its advertising," the company said in a statement.

> > The Tiger Woods Stock Index

The statement follows Woods' announcement on Friday that he would be taking an indefinite leave from golf to focus on repairing his relationship with his family.

"We are disappointed but respect their [Accenture's] decision," said Woods agent Mark Steinberg, in an email to the Wall Street Journal. "That is all I have to say to you."

Woods makes about $90 million a year in sponsorship fees, according to WSJ. and Accenture was one of his biggest sponsors. Accenture is one of the world's largest management consulting, technology services and outsourcing companies with about $23 billion in revenue in its last fiscal year.
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