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Woods' Scandal Costs Shareholders $12B

Double Bogey

So says a study of companies that sponsored him.

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Andy Wong / AP Photo

Revelations that superstar golfer Tiger Woods had more than a dozen mistresses may have cost him his wife, but it may also have lost some $12 billion to shareholders in companies with which he had sponsorship deals. A study released Monday calculated that those who own stock in companies like Nike, AT&T, and Gatorade may have collectively lost $12 billion. The study, which measured Woods-associated companies' stock prices against the market, found that Gatorade, Nike, and Electronic Arts were the worst off, dropping 4.3 percent, while management consulting firm Accenture didn't suffer a loss.

Read it at New York Daily News

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