American golfer Tiger Woods delivered a speech on Friday where he apologized for his recently publicized marital infidelities. Before an audience of the press, family, and friends, Mr. Woods admitted that he did indeed have a sex addiction. He said that he would one day return to golf, although he did not specify when.
In his speech, he said that he had not been assaulted by his wife, Elin Nordegren, on November 27, 2009, as was speculated in the media, and the injuries he sustained were due to a car accident. He said that his wife "deserves praise, not blame."
He scolded the media for the attention they were bringing to his family and friends saying "please leave my wife and kids alone." He was very angry at paparazzo who followed his daughter to school, then releasing the school's name and address.
After his speech, the stock price of companies which sponsored Woods rose on average 3% compared to the S&P 500 which only rose about 0.35%. These companies include Nike, Electronic Arts, and AT&T among others. Also CBS Sports expects to lose over US$200 million in ad revenue due to the drop in viewers.
