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You always have to be skeptical of the dollar figures thrown around in the reports of athletes' endorsement contracts. But whether the news that Tiger Woods has signed a licensing deal with Gatorade that could be worth $100 million gets the dollar figure exactly right or not, Darren Rovell explains at his sports business blog that this is a huge deal.
Rovell says Gatorade usually pays no more than $1 million a year to the athletes who endorse it, but that the arrangement with Woods is actually a licensing arrangement, not an endorsement. What's the difference? It means that Woods will get a percentage of the sales of the Gatorade Tiger Woods Thirst Quencher, the new drink that the company will launch in March.
Deals like this are rare -- the only other one I can think of is the George Foreman Grill, which earned Foreman somewhere in the neighborhood of $150 million. But with the way so many weekend golfers want to imitate everything Tiger does, I could see this drink becoming incredibly popular and generating nine-figure paydays for both Woods and Gatorade.
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