Paddy Power bookmaker to sponsor Tiger Woods?

Irish bookmaker Paddy Power has reportedly been in talks with the management company of world number one Tiger Woods with a view to a sponshorship deal.

The bookmaker claim they have had a five-year deal worth around $75million to sponsor Woods rejected but are likely to return with an improved offer.

Only this morning the bookmaker released a statement which read:

“Following recent international media coverage of Paddy Power’s negotiations with IMG to sponsor Tiger Woods, the company confirms that its initial offer covering a five-year period for a total potential sponsorship of $75 million has been rejected by IMG.

“Paddy Power remains keen to work with Tiger Woods, and will re-engage with IMG. An enhanced offer will be made, the details of which will remain confidential.”

The Paddy Power proposal includes most of Europe, Asia and Australasia but not the US as the PGA Tour frowns upon players associating with gambling sites or casinos when it comes to marketing or sponsorship deals.

Regardless of whether the deals comes off, it is clear the bookmaker has forgiven Tiger after he cost the firm over £1million when they paid out on Woods after he led the US PGA at Hazeltine by two shots heading into the final round. Woods had never lost when leading a tournament going into the last day but saw his lead overturned by Korean YE Yang.

Meanwhile, the firm have priced Tiger at just 3/1 to win the US Masters at Augusta National in April.