AmEx, Tiger Woods Will Not Negotiate New Contract

Woods, AmEx Will Not Discuss New Contract

Mark Steinberg, Tiger Woods' agent, said Woods and American Express have “mutually agreed not to negotiate another contract," according to Doug Ferguson of the AP. Steinberg: “I know that sounds like a cop-out. But this was one of those deals that had run its course. If they wanted to be more consumer-driven, that might require more of Tiger’s time.” Ferguson noted AmEx for the last decade "focused its golf business" on Woods, who had twice signed five-year deals with the company beginning in '97, and a World Golf Championship. But the company has “shifted its strategy in golf" by signing deals with the USGA and the PGA of America. AmEx VP/Global Sponsorship & Event Marketing Rich Lehrfeld said that "while the relationship with Woods was strong, the company’s marketing strategy has shifted to become even more geared toward consumers.” Lehrfeld: “We wanted to move our dollars to build a broader base of consumer experiences” (AP, 8/3).