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I wasn't part of the discussions that came afterward, but as GM's financial situation deteriorated, I imagine the tone of the meetings changed to comprehend GM's cash crises. At some point I'm guessing Tiger said something like: "Look, you guys have been great to me, and I'd like to continue our deal as well, but you boys are in some seriously hot water. It's been nine great years, let's leave it at that. You don't owe me a dime for the last year of the contract. We good?" And that was it, a graceful exit all around.
As for Tiger's bag? There will be a ton of interest and some may come from competitive car makers. I'd be willing to bet that he will not entertain a foreign nameplate. Mercedes and Lexus are the obvious candidates, but I think Nike will have the right of first refusal and there's no way they'll let that bag get away from them again. If you look at Nike, it almost always goes in for the full Monty: Hat, shirt, glove, shoes, clubs, bag and balls.
In a strange way, this development might bode well for the two remaining Buick title events on Tour, the Buick Invitational in San Diego and the Buick Open in Flint. The company's spokesman, Larry Peck, has repeatedly maintained that the tournaments are viable at least through '09. San Diego costs them about $7 million, but most of that has probably already been paid. Flint is further out, so even though the Tour considers its contracts iron clad, the event could be in some sort of jeopardy. But since Buick owns that tournament it costs less, about $5 million. The $10 million or so the company just saved on the Tiger deal could save the Buick Open.
Other questions remain, though. If GM gets the bailout money, will the new "Car Tsar" allow it to spend any of that cash on pro golf events, college basketball or NASCAR sponsorships? If they don't get the dough from Uncle Sam and have to go Chapter 11, will the bankruptcy judge approve such expenditures? Stay tuned boys and girls, this could get interesting.
Jim McGovern ran Buick's golf program from 1998 to 2005 and consults for title sponsors of PGA Tour events.
