Woods Turns Down Paddy Power Sponsorship Offer

DUBLIN (Reuters) – Tiger Woods has turned down a $75 million (49.9 million pounds) sponsorship offer from Paddy Power, the Irish bookmaker said on Friday, adding it would make an improved offer to the golfer.

The 14-times major champion winner was dumped by sports drink brand Gatorade last week, the third major corporate sponsor to abandon the American since details of his adulterous affairs surfaced late last year.

The Dublin-based company said its initial offer to Woods, who was estimated to have earned $100 million annually in endorsement deals before taking an indefinite break from golf in December, covered a five-year period.