Tuesday, August 7, 2007

Tiger Woods and Amex Part Ways

After a 10-year partnership, Tiger Woods and American Express have parted ways. Woods' second of two five year deals ended recently. Woods and AMEX decided not to sign another deal, thus ending the partnership. This story was reported by Sports Business Radio.

American Express will still be very much involved with golf though, as the company signed a deal with the PGA of America. Amex vice president Rich Lehrfeld told the AP that while the relationship with Woods was strong, the company's marketing strategy has shifted to become even more geared toward consumers.
"He brought a lot of value to Amex. He's an incredible athlete with an incredible work ethic, and that runs well with what our brand is all about," Lehrfeld said. "Sometimes strategies change. We wanted to move our dollars to build a broader base of consumer experiences."