Is Tiger Woods Running out of Money?

[Stuart G]

http://finance.yahoo.com/banking-budgeting/article/113144/tiger-woods-running-out-of-money-fortune
Yahoo Finance

With only a few endorsement deals left, a recent divorce settlement, a hefty house mortgage, and even a pay cut from Nike, Tiger Woods' lifestyle is looking a lot less glamorous.

When news broke a few weeks ago that Tiger Woods had signed an endorsement deal to hawk a heat rub in Japan, it was hard not to think of "Lost in Translation," or of the "Entourage" episode when Vincent Chase goes to China to do an energy drink commercial because he's out of money.

Although Woods was likely paid in the single-digit millions for the spot -- in which he takes a swing, rubs his back, and says, "Go Vantelin!" -- it's a far cry from campaigns for PepsiCo (NYSE: PEP - News), Gillette, and Accenture (NYSE: ACN - News). The last time Woods showed up in Japanese TV ads was in 1997, when he promoted Asahi Wonda coffee, back before he became a phenomenon. So the deal with Kowa (maker of the rub) seems more like a moment of desperation than a return to form.

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buried in the 13 paragraph of this story is this:

"As Tiger's revenues have declined, his expenses have only climbed. To begin with, there's the reported $100 million divorce settlement. And last August, Woods took out a $54.5 million mortgage on his home in Jupiter Island, Florida. According to the public document, Woods is required to pay off the mortgage in full by January of 2016, giving him a mere five and a half years to shed the debt. He's therefore paying more than $10 million each year, including his $431,042 in annual property taxes."

....not too smart to sign a note like that ...not with dwindling income. Looks like Tiger may not be that smart..
I suppose Tiger is absolutely sure everything will return to his old form....
maybe not... we will all see, but will anyone really care?

[Fuddnik]

1. Maybe he should marry Casey Anthony for the money?

They're both in Orlando.

:rofl: :rofl: :rofl: :hide: :rofl:

[exboyfil]

2. Granted the Heat Rub commercial is concerning

but I have a tough time believing that he could have burned through the cash that quickly. He made $75M over the last 12 months. Florida does not have a state income tax so he is keeping 70% of that before paying other types of taxes (such as the Property Taxes mentioned above).

I don't expect to see him with a tin cup anytime soon unless he has a gambling problem on the order of Cecil Fielder.

[monmouth]

3. If she marries this new moneybags she's dating, his alimony will

end and he'll just have the child support. Don't worry about Tiger, he'll be just fine.

[Angry Dragon]

4. I read where the divorce settlement was for $750 million

He could sell his yacht........

[Historic NY]

5. Do you really care, I don't.....he is a moran.

[Sarah Ibarruri]

6. I personally hope he does. It would serve as a lesson to others. nt

[Dept of Beer]

7. Perhaps he can find a room mate to share cost.

Tiger Woods and Tiger Blood.

[rpannier]

8. Tiger Woods and Lost in the Woods

[dipsydoodle]

9. He's only 36

He probably will make it back. Our views of him outside the US may not match yours over there.

[skepticscott]

10. That's like asking

if Sarah Palin is running out of stupid.

[hobbit709]

11. Teach him to keep his pants zipped.

Maybe he should buy a smaller house. Even if I had a billion dollars, I can't think of any reason why I would want a house that size.