Is Tiger Woods, unthinkably, in financial trouble these days?
That may be both exaggerating and oversimplifying it, but given a loss of some endorsement deals, his recent divorce settlement, a hefty mortgage, and even a pay cut from Nike, Planet Tiger isn't what it used to be.
Forbes reports that Tiger recently signed a deal to hawk a heat rub in Japan. Although Woods was likely paid in the single-digit millions for the spot, it's a far cry from his former campaigns for Pepsi, Gillette, and Accenture.
Once king of the sports world, Tiger has suffered financially since late 2009.
After his personal life imploded, his endorsement list shrank and his marriage ended in a divorce settlement with Elin Nordegren worth $100 million-plus.
But now he may actually be hurting for funds. At the very least, there are signs that the legend isn't generating enough to comfortably cover his costs.
Woods took out a $54.5 million mortgage on his home in Jupiter Island, Fla, last year. He is required to pay off the mortgage in full by January of 2016.
That gives him a mere five and a half years to shed the debt at more than $10 million each year, which includes his $431,042 in annual property taxes.
He's left his old agency and even fired his caddy. He's injured and unable to compete for prize money, with no victories since 2009. Things are not good.
Silver lining. The Bank of Rachel Uchitel apparently returned a bunch of cash.
steve@thehollywoodgossip.com (Free Britney) 26 Jul, 2011--
Source: http://www.thehollywoodgossip.com/2011/07/is-tiger-woods-having-money-problems/
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