NASSAU, Bahamas: Golf icon Tiger Woods will continue to be Hero MotoCorp’s ‘Global Corporate Partner’ for at least another four years, the company announced on Tuesday.
Hero MotoCorp and Woods’ association began in 2014 and the announcement of the renewal of their partnership was made on the eve of the Hero World Challenge, which sees the world’s top 18 golfers compete at the Albany, Bahamas.
When it was first signed, Woods’ endorsement deal with the world’s largest two-wheeler manufacturer was “holed” at $8 million (just over Rs 500 million at then exchange rates) a year, making it the most expensive celebrity endorsement ever for an Indian company.
Even assuming there has been no dollar increase in the value of the endorsement, at today’s rates, it works out to Rs 566 million a year that Hero will be paying out to one of the world’s most recognisable sporting superstars.
Hero MotoCorp chairman Pawan Munjal said: “Tiger is one of the greatest athletes in the history of sports. His persona transcends geographical, cultural and generational boundaries. We have had a mutually rewarding association with him over these past four years.
“As Brand Hero keeps expanding its global footprint across continents, our aim is also to take golf to newer demographics and bring innovations to the game. Tiger will continue to play a valuable role in this exciting journey.”
Speaking about his association with Hero MotoCorp, Woods said: “Through my interactions with Pawan and my association with Hero MotoCorp, I have come to understand the immense positive transformation that Hero is making across the world with its sustainable, eco-friendly engineering.
“It is exciting and enriching to know how Hero’s range of motorcycles and scooters are empowering societies around the world by providing convenient mobility solutions. Pawan has a clear vision for not just the future of global mobility, but also the growth of golf and I am glad to be a part of it.”
The four-day 72-hole stroke play event begins on Thursday and ends on Sunday with a total prize purse of $3.5 million with the winner getting $1 million.
Hero MotoCorp has been the title sponsor of the invitation-only PGA TOUR event hosted by Woods since 2014. In September, Woods’ events company TGR Live and Tavistock Group announced that Hero had extended its title sponsorship of the Hero World Challenge for another four years.
The 2018 Hero World Challenge will be played at Albany, Bahamas, and will feature tournament host Tiger Woods, Justin Rose, Dustin Johnson, Justin Thomas, Bryson DeChambeau, Jon Rahm, defending champion Rickie Fowler, Xander Schauffele, Jason Day, Tony Finau, Patrick Cantlay, Masters champion Patrick Reed, Alex Noren, Hideki Matsuyama, Bubba Watson, Henrik Stenson, Keegan Bradley and Gary Woodland.
