DETROIT — After nine years, Tiger Woods and General Motors Corp. are done.
GM announced Monday that the automaker and Woods, winner of 14 major tournaments in his professional golf career, had "agreed to a mutual and amicable separation." The endorsement deal ends effective Dec. 31.
GM said the move was part of efforts by the automaker to save money and by Woods — whose wife is expecting their second child this winter — to have "more personal time."
The automaker has warned that it could reach the minimum levels of cash needed to sustain operations by the end of the year. GM, Ford and Chrysler are seeking $25 billion in federal bailout loans from Congress.
"In light of the news coming out of Washington, this decision is the result of discussions that started earlier in the year, and the timing of this agreement with these other activities is purely coincidental," said Mark LaNeve, General Motors North American vice president of sales, service and marketing, in a statement,
LaNeve said Woods had been "a great friend to GM" and "a fantastic asset through the years helping to bring consumer awareness to many new GM products."
Woods had endorsed GM products for the past nine years and was heavily associated with the Buick brand.
In a statement on his Web site, Woods said: "I am very proud of the long-standing partnership I've had with GM and have enjoyed being a part of the company's dramatic product evolution. We've had a lot of fun together and I participated in some unique and rewarding activities."
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