GM ends 9-year relationship with Tiger Woods

GM announced today that it will end its 9-year partnership with Tiger Woods a year earlier than scheduled. GM and the professional golfer will end their endorsement deal effective Dec. 31, 2008.

“Both GM and Woods agreed to a mutual and amicable separation that included a desire for more personal time for the 14-time major winner who is expecting his second child in late winter as well as the search for budget efficiencies during a difficult economy for General Motors,” said GM in a statement.

Mark LaNeve, GM’s vice president of sales, service and marketing said that the decision is a result of discussions that took place earlier in the year and that the “timing of this agreement with these other activities is purely coincidental.”