Tiger Woods and Nike have ended their lucrative partnership after almost three decades.
Woods is estimated to have earned around $500m in the 27 years he spent as a face of the brand he joined on turning professional aged 20 in 1996.
That first contract, for $40m for five years, blossomed into one of the most successful commercial arrangements in the history of sport.
Across his 15 major wins and 82 PGA Tour titles, Woods’ Sunday red look became iconic and so did a number of their adverts.
There has been no suggestion that the end of the deal was acrimonious. However, it has been noted since Woods’s near-fatal car accident in 2021 that he has played in Footjoy shoes rather than Nike — attributed to his health.
Tiger Woods and Nike have announced their $500million partnership is over after 27 years
Nike said it was ‘a hell of a round, Tiger’ with the golfer wearing their brand as far back as 1992
Confirming the split, which has been rumored within golf since late last year, Woods posted on social media: ‘Over 27 years go, I was fortunate to start a partnership with one of the most iconic brands in the world.
‘The days since have been filled with so many amazing moments and memories, if I started naming them, I could go on forever.
‘Phil Knight’s passion and vision brought this Nike and Nike Golf partnership together and I want to personally thank him, along with the Nike employees and incredible athletes I have had the pleasure of working with along the way.
‘People will ask if there is another chapter. Yes, there will certainly be another chapter.’
Tiger ended his statement with ‘See you in LA’, which suggests he is planning on playing next at the upcoming Genesis Invitational at the Riviera Country Club in February.
Nike posted their own statement on Instagram, adding: ‘Tiger, you challenged your competition, stereotypes, conventions, the old school way of thinking.
‘You challenged the entire institution of golf. You challenged us. And most of all, yourself. And for that challenge we’re grateful.’
There have been rumblings the golfer and the company could part ways ever since Woods’ miraculous comeback last year after his horror 2021 car crash.
Woods thanked Nike co-founder Phil Knight (pictured together in 2016) in his statement
Woods raised eyebrows when he arrived at the Masters in April 2022 to make his return to the course after the single-car accident, which almost cost him his leg, in a pair of FootJoy golf shoes, instead of his usual Nike.
He explained his footwear choice to the media, saying: ‘I have very limited mobility now. Just with the rods and plates and screws that are in my leg, I needed something different, something that allowed me to be more stable. That’s what I’ve gone to.’
Nike backed up Woods’ decision with a press release that read: ‘Like golf fans around the world, we are delighted to see Tiger back on the course.
‘He is an incredible athlete, and it is phenomenal to see him returning to the game at this level. His story continues to transcend sport and inspire us all. As he continues his return, we will work with him to meet his new needs.’
Woods also wore FootJoys at the Masters again this year and at the Hero World Challenge last month.
But, despite speculation, the move doesn’t appear to harbor any bitter feelings but is rather a business decision.
Nike is said to be considering a move to shut down its golf division amid suggestions the brand is looking to make cuts of up to $1.9bn. They stopped making golf equipment in 2016 and has only sold apparel since.
Woods’ first contract with Nike way back in 1996 was reportedly worth $40m over five years
Other Nike players, like Rory McIlroy, could also leave amid uncertainty over their golf decision
Other brand ambassadors, including Rory McIlroy, Scottie Scheffler and Brook Koepka reportedly could also leave Nike for good.
Nike’s closure of its golf division would bring down the curtain on a 40-year stint of making apparel and equipment for the sport.
After Nike stopped manufacturing equipment, Woods turned to TaylorMade, which does have an apparel section, albeit limited. He also uses Bridgestone balls.
Woods’ first contract with Nike in 1996 was reportedly worth $40m over five years, followed by an estimated $100m contract signed in 2001 over another five years, according to ESPN.
He penned another eight-year deal in 2006 for an estimated $20-40 million annually, which was extended in 2013 for an undisclosed sum, according to Forbes. It is believed his current deal is worth $200m.
If they do split, Woods wouldn’t be the first leading athlete to part ways with Nike following a profitable partnership.
Soccer star Lionel Messi left Nike for Adidas in 2005, Kobe Bryant did the reverse switch Adidas for his own lune with Nike, and Simone Biles left the sportswear giant for Athleta.
