(Tiger Woods item updated to include comment from an AT&T spokesman.)
"We are ending our sponsorship agreement with Tiger Woods and wish him well in the future," AT&T said.
The company, whose name had been emblazoned on Woods' golf bag, was the chief backer behind the AT&T National tournament hosted by Woods every July outside Washington, D.C.An AT&T spokesman said the company will continue to sponsor the event. He wouldn't comment further, but it's unclear whether Woods will remain in his role as host. The tournament's Web site still bears an image of the golfer on its home page. AT&T also sponsored one of Woods' charity events, "TigerJam," but the contract for that arrangment has expired, the spokesman said. Other major corporate sponsors, including Proctor & Gamble's Gillette unit and Accenture (ACN - Get Report), have backed away from Woods in the wake of the scandals that emerged followed his car accident on Thanksgiving weekend. According to a study that received a lot of media attention this week, the scandal has cost shareholders of Woods-endorsed companies as much as $12 billion in overall market value. -- Written by Scott Eden in New York Follow TheStreet.com on Twitter and become a fan on Facebook.
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