There is never smoke without fire. For several weeks, information had been circulating that Tiger Woods and the American company Nike were ending their long-standing partnership. This morning the athlete declared divorce after a 27-year love affair that earned him no less than $500 million.
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In 1996, at the beginning of his illustrious career, Tiger signed the first of his many contracts with the great American brand under the watchful eye of his co-founder and CEO Phil Knight. The last project, which lasted ten years and was worth around $200 million, dates back to 2013.
With the “Swoosh,” Woods won 82 PGA Tour titles and 15 Grand Slam victories.
“Over 27 years ago I was lucky enough to start a partnership with one of the most recognized brands in the world,” the now 48-year-old athlete wrote on social media, adding that he “couldn’t call a spade a spade.” “Times and incredible memories” he experienced with the outfitter because he “would talk about it forever.”
These include great moments in golf history and certain iconic championships. Remarkably, one cannot forget this delicate approach that resulted in the 16th pennant in the final round of the 2005 Masters tournament in Augusta.
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harmony
This divorce was harmonious, at least publicly. The company elegantly thanked the golfer with a photo and a message. In the picture, Woods can be seen wearing his famous red Sunday polo shirt and pumping his fist in the air with the note: “That was quite a round, Tiger.”
The company also added a message for him. “Tiger, you have defied your competition, your stereotypes, conventions and old school ways of thinking. They challenged the entire golf institution. You challenged us. And most importantly, you challenged yourself. We're thankful.”
Like a marriage, this 27-year union was not smooth sailing. Despite the controversies, the athlete's marital problems with his ex-spouse Elin Nordegren, his numerous injuries that caused collateral damage such as addiction to certain substances and long periods of inactivity, Nike has never dropped its ambassador in the golf world, as the TW brand endures to generate profits.
But Woods' problems cost him contracts with AT&T, Buick, Tag Heuer and Gillette.
More than $500 million
In his prime, the famous golfer managed to rake in no less than $110 million annually while also being the highest-paid athlete in the world. This envelope contained the approximately $30 million from the agreement with Nike, Forbes reported at the time.
Equipped with the company's image from head to toe, until 2016 Woods executed his swings with Nike sticks and hit balls marked with the “Swoosh”. The equipment manufacturer then left this production area to focus solely on clothing.
The golfer then turned to Taylor Made for his clubs and then to Bridgestone for his balls.
With its last major success in April 2019 at the Masters, Nike saw a global surge in sales of red “mock necks.”
Archive photo, AFP
Ultimately, Woods would have pocketed a total of more than $500 million with Nike in 2023. He is one of the athletes who have signed the best partnership contracts in the history of the sport. (see table).
According to Forbes, it is one of the most famous and lucrative agreements ever signed between an athlete and a company. Woods is one of the first three professional athletes to become billionaires. The other two are NBA stars Michael Jordan and LeBron James, also in the Nike ranks.
The accident that almost cost him his life on a street in a Los Angeles suburb in February 2021 put a serious damper on his career. Although he managed to return to the sport 14 months later, the 48-year-old golfer is limited to just a few appearances per season. When he returns to play in April 2022, it is important to remember that Woods did not wear Nike shoes.
In 2023, he was forced to withdraw from the Masters Tournament due to a foot injury. After going under the knife, he returned to the game in late November.
new chapter
It is therefore not surprising that the two clans announced their divorce at the end of their careers, especially since Nike still has some big players in its ranks, such as Rory McIlroy and Brooks Koepka, while Australian Jason Dayn is no longer there.
In February, we'll find out who Woods turned to for clothing.
“There will be a new chapter,” he concluded in his message. See you in LA”
He will then host the Genesis Invitational on the fairways of Riviera Country Club in Los Angeles from February 15-18.
