After ending many of its corporate sports sponsorships during its bankruptcy ordeal, General Motors is once again profitable and ready to start spending again.
Sub-brand Cadillac will sponsor golf tournaments again starting with the World Golf Championship in Doral, Florida. The tournament will be renamed the World Golf Championships-Cadillac Championship.
Since emerging from its government-ordered restructuring, GM made $4.2 billion through the first three quarters in 2010 and has repaid the US government $13.5 billion of the $49.5 billion it borrowed. The company plans to re-pay another $9.5 billion by the end of 2010.
GM’s Buick division was forced to end a nine-year sponsorship deal with Tiger Woods in 2008 and a 51-year run as sponsor of the Buick Open, near Detroit. Now the company plans to bring a golf tournament back to Michigan and resume advertising during the Super Bowl in January.
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