Saturday, January 1, 2011

Golf: Woods top earner despite a pay cut

Despite a pay cut of $48million and failing to win a single tournament, Tiger Woods has again emerged as golf's top earner in 2010.
Woods' earnings took a dent after losing his swing and his marriage but he still managed to make $74.2m according to Golf Digest magazine's annual list.
The American world number two received just $2.29m from tournament purses, the bulk of his income coming through endorsements and appearance fees.
Woods, who celebrated his 35th birthday on Thursday, was down from a staggering $121.9m in 2009 after he was engulfed by a scandal.
The furore caused firms such as AT&T and Accenture to end sponsorship deals with the 14-time major champion, costing him up to $35m in annual revenue.
He is however, still paid more than $60m-per-year by Nike, Electronic Arts, Procter & Gamble's Gillette, Berkshire Hathaway's NetJets unit, LVMH Moet Hennessy Louis Vuitton's Tag Heuer, Upper Deck and TLC Laser Vision Centers.
The Golf Digest list is compiled through interviews with agents, players, executives of companies involved with endorsements, industry analysts, plus the official money lists of the leading professional tours.
Fellow American Phil Mickelson was second on the list, with total earnings of $40.18m with Arnold Palmer ($36m) third.
They are followed Greg Norman ($30m), Jack Nicklaus ($25.17m) and Jim Furyk with on $23.58m.
Other players featured in the top 50 include South Africans Ernie Els seventh ($21.5m) and Gary Player eighth ($15.01 m), Britain's Lee Westwood ninth ($14.73m) and the Republic of Ireland's Padraig Harrington ($11.61m).

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