The big news is Tiger Woods will promote PepsiCo’s Gatorade for a cool $100 million. The sports performance beverage is named after the living legend himself, Gatorade Tiger Woods Thirst Quencher.
Remember, this is a licensing deal and Tiger Woods won’t get an upfront payment of $100 million just like that. Gatorade normally does not pay more than $1million per year to its endorsers. To get the money, the drink called ‘Gatorade Tiger Woods Thirst Quencher’ will have to perform in the market and based on the performance Woods will get a percentage of the sale. Just like Michael Jordon’s licensing contract with Nike. Surely the Golf champ will get some upfront money, which supposedly will be much much more than the standard $1 million.
New look Gatorade bottle after the jump
Yes, big buck deals like this are scarce but not out of the world. George Foreman did promote for Salton Inc for The George Foreman Grill. The rest is history. 55 million grills were sold between 1995 and 2004. Many estimate the deal make George Foreman earn not less than $140 million.
Gatorade Tiger Woods Thirst Quencher may yet be another marketing history in the making.
AP Story
Image: Getty Image, Adage
