AT&T Drops Tiger Woods

Dec. 31, 2009— -- AT& has become the latest sponsor to drop its endorsement deal with Tiger Woods after revelations that the legendary golfer engaged in multiple extramarital affairs.

"We are ending our sponsorship agreement with Tiger Woods and wish him well in the future," the telecommunications giant said in a statement released today.

AT&T follows Accenture, the consulting firm, which said Dec. 13 it had dropped Woods as a spokesman. Accenture said that Woods was "no longer the right representative" for the firm.

"For the past six years, Accenture and Tiger Woods have had a very successful sponsorship arrangement and his achievements on the golf course have been a powerful metaphor for business success in Accenture's advertising," Accenture wrote. "However, given the circumstances of the last two weeks, after careful consideration and analysis, the company has determined that he is no longer the right representative for its advertising. Accenture said that it wishes only the best for Tiger Woods and his family."

Shaving company Gillete has also distanced itself from the golf superstar, saying earlier this month that it was "limiting [Woods'] role in our marketing programs."

Companies began backing away from Woods after he announced Dec. 11 that he would take "an indefinite break from professional golf" to deal with family issues, most likely spurred by published claims of at least 11 extramarital affairs and links to prostitutes.

With a roster of high-profile endorsements such as Nike, Woods became the first athlete to earn $1 billion, so his golf hiatus could mean major financial hits both for him and the PGA Tour.