
The declining automotive industry has caused a lot of changes in the advertising contracts, too. According to The Detroit News, Tiger Woods’s agent, Mark Steinberg, and Larry Peck, marketing manager for the golf division of GM’s Buick line, are currently talking about the famous golfer’s contract, which ends next year. Though GM is in big trouble right now, with stock falling 74 percent and 53,000 workers laid off, the company says that it plans on continuing the Woods sponsorship. “I want to see where they are, and they want to see where we are,” Steinberg said. Tiger Woods was recently ranked #1 in BusinessWeek’s “Most Powerful People in Sports” list.
Read More: "GM in talks with Tiger Woods about his Buick contract?"
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