Tiger Woods rejects $75 million offer from Paddy Power

[The Buzz]

American golfer Tiger Woods has been in the news quite a bit the last several months, and none of the news has to do with his superhuman exploits on the golf course. Woods has been marred in an adultery scandal here in the States and hasn't played competitive golf since late 2009.

Not one to avoid flashy headlines, Irish bookmaker Paddy Power made a $75 million sponsorship offer to Woods that the golfer turned down last week.

From The New York Times:

The Dublin-based company said its initial offer to Woods, who was estimated to have earned $100 million annually in endorsement deals before taking an indefinite break from golf in December, covered a five-year period.

Woods did not set a date for his return to competition when he spoke to media last month for the first time since the scandal over his private life erupted.

Paddy Power lost 1.5 million euros (1.4 million pounds) by paying out to those who had gambled on Woods after just 36 holes of last year's U.S. PGA Championship, which the world No.1 eventually lost to South Korea's Yang Yong-eun.

Paddy Power said it would make an improved offer to the golfer sometime in the near future.

[Anthony]

$75 million that's generous.

Tiger doesn't need the money and after all the press he has the last thing he wants to do is associate himself with gambling. I am sure Paddy Power knew this and it got them a free story in the New York Times. Now that's smart marketing...