October 18, 2007 05:05:03 GMT
PepsiCo Inc.'s Gatorade unit and Tiger Woods are developing a sports-performance beverage that will be introduced in March 2008.
Already signed numerous endorsement deals with companies including General Motors, Titleist, General Mills, American Express, Accenture and Nike among others, Tiger Woods is having his own brand of sports drink on works.
The professional golfer has signed a deal with PepsiCo Inc.'s Gatorade unit to develop "Tiger-inspired" sports performance beverages for athletes at all levels. The deal reportedly could be worth $100 million.
On the $100 million deal, which obviously is much more than the $1 million per year payment Gatorade gave to the athletes who endorse its products, it is reported that the deal the company made with Woods is actually a licensing arrangement, not an endorsement.
Has been working on the deals since summer, Woods "even chose the flavors himself." And as for the upcoming "Gatorade Tiger," which is to be introduced March next year, it will first appear in a cherry blend, citrus blend and grape.
"Gatorade has been part of my game plan for years, whether I'm training or competing, so this is an ideal match," Woods said in a statement. "I'm eager to launch my first signature product in a few months and look forward to developing additional sports performance beverages with Gatorade in the coming years."