Dec

30

 Tiger Woods isn't the only one suffering financial as a result of his multiple affairs — shareholders of his sponsors are too. A study Monday revealed that shareholders of sponsors like Nike, AT&T and Gatorade may have lost billions of dollars in the wake of the scandal.

Study author Victor Stango, a professor at the University of California Davis, said:

"Total shareholder losses may exceed several decades' worth of Tiger Woods' personal endorsement income."

In the study, Stango compared the stock prices of nine of Woods' sponsors with competitors and the overal market after the scandal was revealed last month. Investors in three sports-related companies — Electronic Arts, Gatorade and Nike — actually fared the worst, experiencing a 4.3% drop in stock value.


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