Tiger Woods and Gatorade Sign BIG Deal
Gatorade announced a 5-year licensing partnership with Tiger Woods yesterday. It has been a long-standing rumor and if you watch golf closely, Tiger has been drinking out of Gatorade bottles on the course this fall. The partnership makes sense and it is Tiger’s first foray into the beverage category (which is a bit shocking). What’s different for Gatorade is how the deal is structured. It is a licensing program in which they will sell Tiger branded products and use his name and image on packaging do so. In return, Tiger will earn a royalty of sales (that number typically ranges from 8-15%). VitaminWater has been doing this with their celebrities (or at least giving them a stake in the company). So it is a smart move by Gatorade to keep up with the trend and lock in this country’s most powerful athlete.
Tags: Endorsement, gatorade, Tiger Woods