Tiger Woods comeback at the Augusta affords corporates the opportunity to bag him for cheap
The golfing world is celebrating the resurrection of its own God in the week after Easter. Millions of fans, television broadcasters, marketers (from whatever is left of the Tiger Woods saga) and most importantly the PGA (Professional Golfers’ Association) are all heaving a sigh of relief, after Tiger Woods announced his return to competitive golf at the Augusta Masters. Will Brand Tiger too undergo a resurrection?
Consider the leading indicator. Around 6.86 million Americans watched his well-orchestrated, well-rehearsed televised mea culpa on February 19 this year; so much so that the trading volume on the New York Stock Exchange fell to 1,00,000 shares — the lowest in the week — the moment his speech started. A modern day adage in America says “if there was a television set in every living room 70 years ago, Americans would have never elected a man in a wheelchair (read President Franklin Roosevelt).” With Woods it could well be the exact opposite.
History too tells us that a comeback is possible. Woods is not the first sports-person to walk on the wild side. Ben Johnson (Seoulgate), Hansie Cronje (match fixing), Shane Warne (steroids and womanising), Kobe Bryant (rape), and more recently Michael Phelps (marijuana abuse) have come under the lens. If you break the law and go against the spirit of sportsmanship (case in point: Johnson and Cronje) a return is well nigh impossible. Personal disasters are easier bunkers to drive out of.
Humans practice the ritual of exoneration diligently. We are a forward-looking breed and always see light at the end of the tunnel. This apart, the simple philosophy that “every American deserves a second chance” has helped many a fallen angel in his comeback. Case in point: Basketball star Kobe Bryant.
In 2003, Bryant was accused of raping a hotel employee. Akin to the Tiger Woods saga, McDonald’s, Nutella and Ferrero SpA terminated their endorsement contracts immediately, while Nike and Coca-Cola didn’t. The suit against Bryant was dropped and both these brands have reaped tremendous benefits. Bryant’s career since his return has been a phenomenal success including the NBA championship in 2009 and the MVP in 2008. Nike’s commemorative Kobe Bryant shoes range (Zoom Kobe, Hyperdunk, Huarache) is one of the highest selling brands of shoes worldwide and his replica jerseys are the bestselling basketball jerseys ever.
(This story appears in the 16 April, 2010 issue of Forbes India. To visit our Archives, click here.)