Mark Steinberg, Tiger Woods' longtime sports agent, was dismissed from sports agency IMG, the New York Post reported Tuesday, citing sources.
The sources said Steinberg's 19-year career ended after the firm, run by cancer-stricken Teddy Forstmann, opted not to renew his contract, which expires June 30.
Steinberg typically pulled in about $3 million annually at IMG, but only generated about $1 million in revenue last year, according to sources familiar with the matter.
"In other words, he was fired for poor performance," said one source.
IMG announced in a statement that Steinberg was leaving the company last week.
Woods has a separate contract with IMG that also expires at the end of June. IMG is said to be pressing to keep Woods.
But sources said it is likely he will follow Steinberg despite rumors that Woods is dating former IMG vice chairman Alastair Johnston's step-daughter, Alyse Lahti Johnston.
Steinberg's dismissal comes as Woods' once-iconic career is in tatters in the wake of an infidelity scandal in 2009 that led to a divorce from his wife, Elin Nordegren.
Steinberg is credited with being one of the main architects of Woods' highly crafted image and growing the company's golf business. He joined IMG in 1992 and became Woods' agent in 1998.