It appears to be a stark sign that times have indeed changed at the beleaguered Detroit automaker.
In a statement, GM said the separation "included a desire for more personal time for the 14-time major winner — who is expecting his second child in later winter — as well as the search for budget efficiencies during a difficult time for General Motors." Advertising Age had pegged the Tiger Woods-GM deal at up to $15 million.
GM said the endorsement deal will end on December 31.
"In light of the news coming out of Washington, this decision is the result of discussions that started earlier in the year and the timing of this agreement with these other activities is purely coincidental," said Mark LaNeve, GM North America vice president of sales, service and marketing.
Coincidental or not, this announcement comes on the same day as a report that GM is returning two of its leased corporate jets.
Inside Line says: GM loses a coveted spokesman as it learns to "live without." — Anita Lienert, Correspondent
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