Golf legend Tiger Woods has announced the end of his enduring 27-year partnership with the world’s largest sportswear company, Nike.
Woods expressed his gratitude, stating, “Over 27 years ago, I was fortunate to start a partnership with one of the most iconic brands in the world.” He hinted at another chapter in his future endeavors.
Nike bid farewell to Woods on Instagram, acknowledging his impact: “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.”
The partnership between Nike and Tiger Woods has been significant since his professional debut in 1996, culminating in notable achievements such as his Masters win in 2019 after an 11-year major tournament victory drought.
Despite facing sponsor losses due to a scandal, including Gatorade, AT&T, and Accenture, costing an estimated $20 million, Woods’ relationship with Nike remained unwavering. The memorable “Hello World” commercial in 1996 marked the beginning of their collaboration, capturing Woods’ entry into professional golf at the Greater Milwaukee Open.
In 2000, Woods signed a groundbreaking five-year endorsement deal with Nike, valued at around $85 million, setting a new standard as the most lucrative sports endorsement contract of that era.
Over nearly three decades, Woods secured various agreements with Nike, including a 10-year deal in 2013 estimated at about $200 million.