Tiger Woods Scandal Tab: $100 Million and Counting

Ever since Tiger Woods slammed his Cadillac SUV into a fire hydrant and tree at 2:25 AM on the morning after Thanksgiving, the torrid sex scandal has cost the world’s top golfer as much as $100 million, if not more, according to estimates by TheImproper.

The tab could go considerably higher, if Woods begins losing endorsements, or the crisis forces him to drop out of more golf tournaments.

The figure includes estimated amounts that he has paid, or may pay to his wife Elin Nordegren, the hush money he reportedly has paid to some of his alleged mistresses and hefty bills for legal representation, public relations related costs, a private investigations firm and other incidentials.

By far the biggest expense is the reported $80 million to $90 million he has offered wife Elin to stay in the marriage for up to seven more years. She could reportedly get up to $7 million up front and $55 million just to stay with him two more years, according to the New York Daily News. After seven years, that amount would increase to $80 million.

But that amount may be subject to negotiation, and a divorce would probably cost him considerably more. Whether Woods’ prenuptial agreement could stand up in the face of the scandal is problematic.

Added to that is the $2.6 million that Nordegren spent on a mansion in Sweden, which she owns in her own name. She paid $850,000 over the asking price to be sure she got the place, according to reports.

In fact, Woods’ substantial fortune, estimated by some to be near $1 billion, may be his biggest hope for eventually quelling the unending scandal that has wrecked his image as an upstanding family man and sportsman. There is also the incalculable cost it may impose on professional golf, because of damage to the so-called “Tiger Effect.”

Before the scandal, Woods could be counted on to double the television audience for a golf tournament with his superior play and fist-pumping displays of emotion. He’s been credited with single-handedly reviving the game as a spectator sport.

But how the public will react when he steps on the golf course, again, is a big unknown. Long considered a gentleman’s game,  with its code of conduct and strict rules of play,  golf now seems more akin to the scandal-scarred National Basketball Association.

The meter started running on Woods’ scandal tab the night of the crash. Mark Steinberg, the golfer’s longtime agent hired Mark NeJame, the most prominent criminal-defense attorney in the Orlando area, to handle the incident.

Tiger Wood's Alleged Mistresses, from top left: Mindy Lawton, Jamie Jungers, Cori Rist, Jaimee Grubbers, Kalika Moquin, Rachel Uchitel

Although Woods’ exhibited clear signs of intoxication, raising enough suspicion for police to seek a warrant for his medical records, the investigation was effectively blocked by the local prosecutor. It’s impossible to know what influence NeJame had on the decision — or if payoffs were made — but Wood’s  legal bills for the incident are probably close to $100,000.

One thing is certain, blocking the search warrant ended the possibility of criminal charges for driving under the influence of drugs or alcohol. Woods was known to have prescriptions for Ambien and Vicodin, the latter a powerful pain killer. A DUI charged would have ruin his image completely.

Woods has also hired the law firm of Lavely & Singer in Los Angeles, which has a reputation for handling sticky situations involving celebrities. It reportedly represented Woods in negotiations with Gloria Allred client Rachel Uchitel, the New York party girl who was first exposed as his mistress by the National Enquirer.

The pay-off to her for a confidentiality agreement was said to be $1 million to $3 million. Typically, a law firm’s fee runs about one-third of the settlement cost, which means Lavely & Singer have conservatively collected $300,000 for their work. But the amount could be higher if the firm is negotiating pay-offs to other alleged mistresses.

Ashley Samson, the who fingered Tiger and Uchitel for the National Enquirer, says the golfer’s reps offered her $200,000 to change her story and deny that Tiger was having an affair with Uchitel. If true, that sort of sets the market for hush-money payments to secondary figures.

The value of confidentiality agreements would probably hinge whether an alleged mistress possessed text messages and/or voice mails that were embarrassing to Woods. Uchitel was said to have hundreds of text messages and emails, many of  containing information highly embarrassing to Woods.

With the tally now at 10 or 11 mistresses, depending on who’s counting, the cost to get them all to sign confidentially agreements is estimated at $5 million to $8 million.

Woods decision to drop out of the Chevron World Challenge cost him as much as $1.35 million, the top prize for wining. He is a two-time defending champion, but did not play in 2008. If he had won, the money would have gone to his charitable Tiger Woods Foundation, with tax deductions to him.

Other costs, such as crisis management provided by his his pr firm, Cleveland-based agency IMG, probably run well into six figures as well.

Tiger Woods ads were pulled from primetime television stations and 19 cable networks by marketers, In addition, Gatorade has announced that they are discontinuing the Tiger Focus drink.

Woods reportedly has a five-year, $100 million deal with Gatorade, which hired him at the top of Tiger’s game in 2007, according to the Associated Press. Gatorade says it has no plans to end its deal with Woods; but is merely discontinuing that drink line.