Is Tiger Woods Broke?

The recent word on the street is that Tiger Woods is quickly running out of money. This is not particularly surprising. Like most athletes, Tiger Woods got himself in the habit of thinking that the gravy train of money that he was earning in his 20s and 30s would continue for life. But when his recent infidelities hit the news, his life quickly changed.

First of all, his wife Elin Nordegrin got a $100 million divorce settlement. That's going to put a dent in your wallet. Tiger clearly wasn't budgeting for such a sharp hit, and I can only imagine the legal fees that he has racked up throughout the proceedings. Additionally, rumors allege that Tiger has spent millions of dollars keeping his ex-lovers quiet. 

Secondly, Tiger has stopped winning in golf. That's not good for him. In 2006, 2007, 2008, and 2009, Tiger was bringing home the big backs, making $5-$10 million dollars per year in golfing victories. For the time being, those days appear to be gone. Tiger hasn't won a major golf tournament since his reputation took a sharp hit, and there's no indication that it's about to recover anytime soon. If you don't win, you don't get the big paychecks.

And most of all, Tiger has stopped receiving the big paychecks from his advertisers. Most of his endorsers cut him, and even the companies that kept him on, like Nike, have sharply reduced the amount of money that they are paying him. Additionally, Tiger has a $50 million mortgage on his Florida home, and the expenses from such a property are most likely adding up fast. While most people would gladly trade places with Tiger, things aren't quite as rosy for him as they once were.