Tiger Woods and Nike had been associated with each other for around 27 years. There would not have been a single tournament where the 82-time PGA Tour winner had not donned the Nike Swoosh on his chest. During his tenure as an ambassador, the company rose from $6.4 billion annual revenue in 1996 to $51.2 million annual revenue in 2023. However, the 15-time major champion has announced on his X (formerly Twitter) handle that he has parted ways with the sports apparel brand.
In an emotional post on X, Tiger Woods stated that he was fortunate to have started a partnership with “one of the most iconic brands”. He mentioned former Nike CEO, Phil Knight, and other employees of the company and thanked them for supporting him. The 15-time major champion wrote,
“Over 27 years ago, 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.”
— Tiger Woods (@TigerWoods) January 8, 2024
Before ending his long emotional text, Tiger Woods wrote that people would ask if there was another chapter in his story. He left fans on a cliffhanger by stating that there would “certainly be another chapter”. He ended by saying that he would see them in Los Angeles.
Now, it remains to be seen when and what exactly is going to happen in Los Angeles. Has Tiger Woods hinted at participating in The Genesis Invitational on the Riviera Golf Course in Los Angeles? Is Tiger Woods going to sign a new brand endorsement deal or is he going to launch his clothing brand? To get those answers, fans have to wait for his next announcement.
How Much Have Tiger Woods and Nike Benefitted From Their 27 Years of Partnership?
The 15-time major champion and one of the greatest of all time, Tiger Woods, was last seen wearing a Nike Swoosh on his chest at the PNC Championship in December 2023. Since then reports of him and the leading sports apparel brand planning to separate have spread all across the internet. On January 8, 2024, the golfer himself took to his X handle to announce the news.
Back in 1996, when Tiger Woods was still an amateur face in the golf circuit joined Nike for a whopping $40 million deal for five years. Nobody would have thought that his association with the leading sports apparel brand would last for nearly 27 years. And, later on, He would have his own “TW” branded line of clothing within the company.
Before signing Tiger Woods, Nike had an annual revenue of nearly $30 million in 1995. However, in just three years, they claimed from $30 million to $300 million in 1998 with a soon-to-be legend on board.
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After their first tenure ended in 2001, Nike renewed the contract with Tiger Woods for a reported $100 million for another five years. Then in 2006, they signed an eight-year deal together for a reported amount of $160 million.
Nike renewed the contract for the fourth time with Woods in 2013. It was said to be a 10-year deal and was reported to be worth around $200 million.
Interestingly, when everyone thought Woods was done as a golfer and could not win another major, Nike still believed in him. He proved their faith right after winning the 2019 Masters Tournament. As per a few reports, the leading sports apparel brand fetched close to $22.5 million during that tournament at Augusta National.
Nike and Tiger Woods splitting is probably a major shock. However, both parties have not yet stated any reason behind them parting ways with each other.
