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USA's Tiger Woods hits on the 11th tee in his playoff match against compatriot Rocco Mediate at the 108th US Open championship at the Torrey Pines Golf Course in San Diego in California in June this year. pic/AFP |
The sponsorship contract, believed to pay Woods $7 million a year, was due to expire at the end of 2009 but instead will conclude at the end of the year under mutual agreement between GM and the global golf star.
Woods has been featured in advertisements for GM products worldwide, notably the Buick automobile brand in China, Canada and the United States, and has played in many US PGA Tour events sponsored by the auto brand.
Woods has been on a layoff following left knee surgery after his triumph in June's US Open at Torrey Pines.
'It's been fun'
While the car company looks to save money, Woods seeks more personal time with his wife Elin due to give birth to their second child in "late winter".
"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," Woods said in a statement.
"We've had a lot of fun together, and I participated in some unique and rewarding activities. We've enjoyed a tremendous partnership
over the years, and we will maintain strong ties with the many people at GM we call friends."
GM officials say the ending of the deal is unrelated to the automaker's request for $25 billion in loans from the federal government.
"Tiger has been a great friend to GM and a fantastic asset through the years," said GM vice-president Mark LaNeve.
"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."
