• CNBC, Monday, June 21, 2010 10:31 AM

CNBC sports business reporter Darren Rovell got his hands on a confidential document that suggests that Tiger Woods personally lost somewhere between $23 to $30 million in endorsements last year in the wake of the scandal caused by his philandering ways. He arrives at this number after reviewing a document that details the revenue of sports management company IMG, which represents Woods, and back-calculating Woods' take from IMG's presumed 15% to 20% commission on the deals it brings in.

The document was used to raise between $300 and $350 million to refinance current debt and pay for new acquisitions. It notes that no single client or IMG-managed property earns more than 2% of its revenue. Rovell writes that IMG has found that representing celebrities is not the best way to make money in the 21st century. The funds reportedly will be used to grow IMG's business in Asia and to increase its control over the collegiate market it already dominates.

An IMG spokesman would not publicly comment on the story.

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