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American golfer Tiger Woodsdelivered a speech on Friday where he apologized for his recentlypublicized marital infidelities. Before an audience of the press,family, and friends, Mr. Woods admitted that he did indeed have asex addiction.He said that he would one day return to golf, although he did notspecify when.

In his speech, he said that he had not been assaulted by hiswife, Elin Nordegren,on November 27, 2009, as was speculated in the media, and theinjuries he sustained were due to a car accident. He said that hiswife “deserves praise, not blame.”

He scolded the media for the attention they were bringing to hisfamily and friends saying “please leave my wife and kids alone.” Hewas very angry at paparazzo who followedhis daughter to school, then releasing the school’s name andaddress.

After his speech, the stock price of companies which sponsoredWoods rose on average 3% compared to the S&P 500 which onlyrose about 0.35%. These companies include Nike,Electronic Arts,and AT&T among others.Also CBS Sports expects tolose over US$200million in ad revenue due to the drop in viewers.

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