Thursday, April 22, 2010

Tiger Woods: Debt Consolidation after Divorce?

After the infidelity fiasco between the world renowned sports superstar Tiger Woods and his wife Elin Nordegren, comes the aftermath of the whole event. The scandal, the intrigues and the rumours that would circulate about this event would last for many years to come. At the feet, another chapter is being written about the storm. This chapter starts with the question “who will get the most out of the settlement?”

The All Important Answers:

According to Fox News, Nordegren allegedly signed a prenuptial agreement which entitles her to about $300,000,000 of the whole estate. This would be equal to about 10% of the whole fortune since Tiger is reportedly earning about four billion dollars a year. Most of his income comes from sponsorships.

Nike alone reportedly pays him one billion dollars a year. Therefore, 300,000,000 is apparently no problem for him. This is definitely not going to get him into debt. However, if he does not play his cards right, he might need to have meetings with the debt consolidation firms because not all his sponsors are willing to back him up. Even those who said that they would be willing to accept him still would limit his exposure because of the scandal.


Because of this, he may not be able to appear on television as often as before. Reputation really has a lot to do with celebrity career. This is the reason celebrities have to keep their reputation up, to maintain the trust of their fans and sponsors.

Tiger Woods may not have financial problems right now, but it would only be a matter of time before he does, if he does not handle his finances well. This scandal can serve as a lesson to him, and he should be more careful about his activities and their consequences.

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