Tiger's Days as Advertising King are Over

The days may be gone when turning on television meant being bombarded with ad on top of ad using the world's No. 1 golfer, Tiger Woods, to sell everything from razors to sports drinks.

Early Wednesday, Woods, 33, released a statement admitting that he has not lived up to the standards that he has built his image upon -- an image that has made him the highest paid athlete in the world -- with $100 million annually coming in from PGA tour earnings and numerous lucrative endorsement deals.

"I have not been true to my values and the behavior my family deserves," Woods stated. "I am not without faults and I am far short of perfect. I am dealing with my behavior and personal failings behind closed doors with my family."

In a sports world that has seen hero after hero fall from grace, Woods has maintained a squeaky-clean, golden-boy image throughout his 13-year professional career.

Woods has been the go-to-guy whenever there was a controversy involving an athlete, with the media being quick to point out how he has always done the right thing. An athlete that is at the top of his sport, and he will never get caught in the media crosshairs for a transgression.

Well that's over now.

What's next? Is the Geico Gecko going to get caught trafficking peyote across the border? Are the Budweiser Clydesdales going to test positive for steroids?

While the statements are not a clear admittance of infidelity, the perception by the public will see it as such.

Few celebrities are so closely tied to the products that they endorse than the way Woods is. Nike's (NYSE: NKE) golf division is completely Tiger-centric, as the golfer helped put the company on the links with authority since using product branded with a swoosh during his many on course achievements.

Companies have poured money at Wood's feet, cashing in on the superstars popularity. Now this trend will surely slow as the public perception of Tiger is going to forever linked to this indiscretion, no matter how badly tiger wishes to keep the matters private.

The situation arose on November 27 when he crashed his car into a fire hydrant outside his Orlando home in the early-morning hours. Rumors began to swirl about domestic violence and possible marital infidelity Woods and wife Elin Nordegren.

The latest issue of US Weekly has a story claiming that that Woods has had a 31-month affair with a Los Angeles cocktail waitress. Jaimee Grubbs told the magazine that she had met Tiger at a Nightclub the week after the 2007 Masters, and has 300 messages as proof.

Whether the story is true or not, the damage to Wood's public persona is done. Maybe the golfer can seek the advice of how something of this nature can affect endorsement dollars from Kobe, A-Rod, or Vick, who have all lost massive endorsement dollars in the past for off-field transgressions.

While Tiger will not face criminal charges in the matter, any well known endorsement giant is aware that being beaten up in the court of public opinion can be just as financially damaging.

(NOTE - Currently, none of his sponsors have pulled out (Gilette (NYSE: PG), Gatorade (NYSE: PEP), AT&T (NYSE: T), Buick, and Nike (NYSE: NKE) to name a few...)

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