NEW YORK (TheStreet) -- Tiger Woods' sex scandal cost his agent, IMG, $4.6 million in fees, a report says.
According to CNBC, IMG, like its peers, charges clients between 15% to 20% on the sponsorship deals it helps to seal.
Extrapolating that figure to Tiger himself, the scandal-plagued golfer would have lost $23 million to $30 million in endorsement deals last year.
CNBC obtained the information from a confidential document that delves into private and powerful IMG's 50-year sports management history.Despite all the Tiger sponsors that jumped ship -- among them AT&T (T), Accenture (ACN), PepsiCo (PEP) brand Gatorade, and Procter & Gamble's (PG) Gillette division -- Woods' value still reportedly exceeds that of some of the biggest names in the sports world combined, even as his public humiliation reached a climax. According to research by Forbes, Woods' value as a sponsor topped footballer David Beckham ($20 million), tennis champ Roger Federer ($16 million), NASCAR driver Dale Earnhardt Jr. ($14 million) and National Basketball Association superstars LeBron James ($13 million) and Kobe Bryant ($12 million). At least for now, his value looks to be sustainable, experts say, depending on how effectively Tiger reinvigorates his career. Big sponsors such as Nike (NKE) and Electronic Arts (ERTS) continue to stand beside him, and even featured him in quirky, prominent (and, in Nike's case, creepy) ads, soon after he reemerged into the public eye, ahead of the Masters tournament in April. A study by finance professors at the University of California, Davis, estimated that shareholders of Tiger Woods-endorsed companies lost between $5 billion and $12 billion in market value after the Tiger sex scandal broke. On the other hand, research from SportsScanInfo, which tracks sports-industry data, seems to show that Nike's golf products, at least, lost little in the way of sales momentum in the 13 weeks between Tiger's car accident outside his Orlando, Fla., home, shortly after Thanksgiving, and his televised public apology in February, when he revealed to the world that he had been cheating on his wife. Nike and Electronic Arts investors will undoubtedly be watching Tiger's performance intensely at the U.S. Open at Pebble Beach this week.
Tracking Tiger at Pebble Beach
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Tiger Woods' Sponsors Jumping Ship
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