Jan 08, 2024

Tiger Woods announces his $500m deal with Nike is OVER after 27 years

After 27 years, the partnership between Tiger Woods and Nike has come to an end. Woods, a golfing legend, has been associated with Nike since he was 20 years old. This long-standing relationship, which has provided iconic Sunday red outfits and memorable commercials, is concluding amidst rumors of Nike planning to shut down its golf […] 
 Jan 08, 2024

Tiger Woods announces his $500m deal with Nike is OVER after 27 years

After 27 years, the partnership between Tiger Woods and Nike has come to an end. Woods, a golfing legend, has been associated with Nike since he was 20 years old. This long-standing relationship, which has provided iconic Sunday red outfits and memorable commercials, is concluding amidst rumors of Nike planning to shut down its golf division.

Both Woods and Nike released statements on Monday announcing the split. Woods expressed his gratitude for the partnership, highlighting the incredible moments and thanking Phil Knight, Nike's co-founder, for his vision. He hinted at a new chapter in his career with a mention of the upcoming Genesis Invitational in Los Angeles.

Nike's statement praised Woods for challenging the institution of golf and pushing the brand to new heights. The possibility of a split was speculated last year when Woods, after his car accident, appeared in FootJoy golf shoes instead of Nike at the Masters, citing the need for more stability due to his injuries. Nike supported his decision, emphasizing their delight in his return to golf and commitment to adapting to his changing needs.

This departure doesn't seem to stem from any animosity but appears to be a strategic business move. Reports suggest that Nike is considering closing its golf division, having ceased manufacturing golf equipment in 2016 to focus on apparel. This potential closure could affect other Nike golf ambassadors like Rory McIlroy, Scottie Scheffler, and Brooks Koepka.

Woods' association with Nike has been highly lucrative, with his initial contract in 1996 worth $40 million over five years, followed by several multi-million dollar deals. Since Nike stopped producing golf equipment, Woods has used TaylorMade clubs and Bridgestone balls.

The end of Woods' partnership with Nike marks a significant shift in the golfing world, similar to other notable athletes who have parted ways with major brands, such as Lionel Messi moving from Nike to Adidas, Kobe Bryant switching from Adidas to Nike, and Simone Biles leaving Nike for Athleta.

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