Tiger Woods' four-year deal with Hero MotoCorp, based on reports in India, is valued at nearly $8M per year. Hero Managing Dir & CEO Pawan Munjal yesterday said that the new deal with Woods will be a critical marketing component of Hero’s entry into the U.S. Almost all of Hero’s two-wheel sales are made in India, but Munjal said global expansion is already under way across Latin America, Africa and Turkey. Woods will be integral for Hero in advertising and appearances as the company’s first global ambassador. “With Tiger, we can use him globally. We won’t be restricted to any one country,” Munjal said. “That’s why he was such a good fit for us" (Michael Smith, Staff Writer). FORBES' Kurt Badenhausen noted the deal is the "most lucrative new sponsorship agreement for Woods since his 2009 infidelity scandal." Munjal "wouldn't comment on financial terms, but when asked about the rich price tag, Munjal quipped: 'It is Tiger Woods after all.'" Badenhausen noted the foundation for the partnership between Woods and Hero "was laid in February when Woods played an exhibition in India hosted by Munjal and also featured Hero-sponsored golfer Shiv Kapur" (FORBES.com, 12/2). Meanwhile, GOLFCHANNEL.com's Rex Hoggard noted Woods yesterday announced that his Hero World Challenge, held this week at Isleworth Golf & Country Club in Windermere, Fla., "will be moving to Albany, an exclusive resort in the Bahamas, for the next three years." The event "had been played in Thousand Oaks, Calif., since 2000 before moving to Isleworth this year" (GOLFCHANNEL.com, 12/2). See the full endorsement portfolio for Tiger Woods at Resource Guide LIVE.
