Tiger Woods leaving Nike after 27 years
The 15-time major golf champion has been with the US sportswear giant since turning professional back in 1996, initially penning a five-year deal worth a reported US$40 million. Woods is estimated to have pocketed around US$500 million over the course of the partnership.
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The 48-year-old last signed a ten-year extension with Nike in 2013, said to be worth about US$200 million, but rumours started swirling towards the end of last year that he could be parting ways with the company.
Woods has continued to wear Nike apparel but has been playing with TaylorMade golf clubs and Bridgestone golf balls since Nike exited the golf equipment business in 2016. He has also been wearing FootJoy shoes since returning to action following a car accident back in 2021.
Now, Woods has released a statement confirming his partnership with Nike was over.
‘Over 27 years ago, I was fortunate to start a partnership with one of the most iconic brands in the world,’ said Woods.
‘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. See you in LA!’
Nike also confirmed Woods’ departure in a post on Instagram.
‘Tiger, you challenged your competition, stereotypes, conventions, the old school way of thinking,’ the post read.
‘You challenged the entire institution of golf. You challenged us. And most of all, yourself. And for that challenge we’re grateful.’
Woods and Nike have been joined at the hip ever since he turned pro.
His exit from the company brings to an end one of sport’s most iconic sponsorships.
It is not the first time Nike has let one of sport’s GOATs move on to pastures new. Tennis legend Roger Federer left for Uniqlo in 2018 after a two-decade association with Nike, citing post-career benefits. Soccer icon Lionel Messi also swapped Nike for Adidas when he was still a teenager.
While Woods is not the dominant force he once was on the course, his commercial appeal is still huge.
Even if his best playing days are seemingly behind him, he still plans to compete and will continue to be part of the golfing conversation having launched his TGL competition with Rory McIlroy and by becoming a member of the PGA Tour’s policy board.
Nike’s decision not to hand Woods a lifetime contract – something it did with Michael Jordan, among others – and continue leveraging the Tiger brand says a lot about the company’s future plans in the sport. It is reportedly considering shuttering its golf division entirely.
Woods’ most likely post-Nike destination could be On Running in a deal that would see him take an equity stake. Federer has a similar agreement with the company. News of the potential union with Woods prompted a major uptick in On Running’s shares on 8th January.
