Tiger Woods loses sponsor as MusclePharm pays to end endorsement deal
Golf Biz Tiger Woods News

Tiger Woods loses sponsor as MusclePharm pays to end endorsement deal


SHARE THIS STORY

Tiger Woods has lost a MusclePharm as a sponsor, ending an endorsement deal after a little less than two years.

SeekingAlpha (via Geoff Shackelford) reports the sports nutrition and supplement maker paid Woods $2.5 million to get out of the deal despite almost three-and-a-half years remaining on their five-year, $7 million contract. Woods was to receive vesting in $5 million in company stock and royalties related to sales of Woods' specific products.

“Our goal is to take the stigma out of supplements,” said Woods’ agent, Mark Steinberg, to the New York Times shortly after the deal was announced in June 2014. “Tiger Woods, maybe the most fit golfer that we’ve had, let’s show that it’s O.K. to align yourself with supplements. Just be safe when you do it. That’s the message we collectively want to spread.”



When the deal was announced, MusclePharm stock went for nearly $12 per share, with the Woods news sending the stock up about 10 percent. The deal included putting the MusclePharm logo on Woods' bag.

The stock peaked at $14 in October of that same year. The stock is currently priced around $2.70 per share.

MusclePharm is facing a number of lawsuits, including a $65 million suit filed this week by supplier Capstone Nutrition for breach of contract.

SUBSCRIBE & WIN TIGER WOODS' BRIDGESTONE GOLF BALLS!

New subscribers to our weekly email newsletter in June will be entered to win 3 dozen limited-edition Tiger Tour B golf balls!

Rules and regulations: By submitting your email address, you agree to join both the Golf News Net and Bridgestone Golf email lists. To be eligible for our prizes, you must remain a subscriber on our list through the end of the contest month. If your email address disappears, it worked!


About the author

Golf News Net

Golf News Net

We use the Golf News Net byline sometimes just to change things up. But, it's one of us humans writing the story, we promise.

Sometimes we post sponsored content from this account, and it is labeled as such. We also occasionally include links to products and services from which we could make a small percentage of a sale through affiliate programs.