Tiger Woods Nike deal: Tiger Woods and Nike declared that their 27-year partnership, which has been successful, has concluded with a $500 million deal. The golf icon, at the age of 48, first wore Nike when he was just 20, and since then, the company has provided him with iconic Sunday red looks and impressive advertisements for devoted fans.
Nike is reportedly planning to completely shut down its golf division, amidst recent rumors of a possible split in the past few weeks. Now, both Tiger Woods and Nike have announced their decision to part ways in a statement issued on Monday.
Tiger Woods, a 15-time major champion, posted: “For more than 27 years, I was fortunate to begin a partnership with one of the most esteemed brands in the world. Since then, my journey has been filled with numerous incredible moments and memories, and if I were to start listing them, I could do it forever.”
He continued, “Phil Knight’s passion and foresight brought Nike and Nike Golf partnership together, and personally, I want to express my gratitude to him, Nike employees, and incredible athletes I’ve had the privilege to work with.”
“People will ask if there’s another chapter. Yes, there will be another chapter.”
Tiger concluded his statement with “See you at Riviera” hinting at his plan to play in the upcoming Genesis Invitational at Riviera Country Club in February.
Nike also posted a statement on Instagram, saying, “Tiger, you challenged us with your competition, tradition, and old-school thinking. You challenged golf. You challenged us. And most importantly, you challenged yourself. And for that challenge, we are grateful.”
Rumors of a potential split between the golfer and the company have been circulating since Tiger’s miraculous comeback after a terrifying car accident in 2021. Woods returned to the golf course in April 2022 after a single-car accident at the Masters, where he nearly lost his foot while wearing a pair of FootJoy golf shoes instead of his usual Nike ones.
Despite controversies, this move doesn’t evoke bitter feelings; instead, it is viewed as a business decision. According to reports, Nike is considering shutting down its golf division. Nike ceased manufacturing golf equipment in 2016 and has only been selling apparel since then.
While Nike ends its golf division, Tiger Woods has shifted towards TaylorMade for equipment and continues to use Bridgestone golf balls. His initial deal with Nike in 1996 was reportedly worth $40 million over five years, followed by an estimated $100 million deal for the next five years in 2001.
According to Forbes, Tiger Woods signed another eight-year deal in 2006 for an estimated $20-40 million annually, which was increased to an unknown amount in 2013. His current deal is believed to be around $200 million. If the split happens, Woods will be the first major athlete to part ways with Nike after a lucrative partnership.
Other athletes who left Nike include soccer star Lionel Messi, who joined Adidas in 2005, Kobe Bryant, who started his own company after switching from Adidas to Nike, and Simone Biles, a sports icon who left Nike for Athleta.
FAQ:
Is Tiger Woods leaving Nike?
Tiger Woods and Nike declared that their 27-year partnership, which has been successful, has concluded with a $500 million deal. The golf icon, at the age of 48, first wore Nike when he was just 20, and since then, the company has provided him with iconic Sunday red looks and impressive advertisements for devoted fans.
Other athletes who left Nike?
Other athletes who left Nike include soccer star Lionel Messi, who joined Adidas in 2005, Kobe Bryant, who started his own company after switching from Adidas to Nike, and Simone Biles, a sports icon who left Nike for Athleta.
