With Tiger Woods and Nike Under Heavy Stress, Potential Rivals Might Hawk Over to Give the 47-Year-Old an Extravagant Deal

Tiger Woods and Nike are reportedly nearing the end of their 27-year-long partnership. The veteran golfer has not sported the familiar Swoosh in the recently concluded Hero World Challenge. Instead, he put his faith in FootJoy’s Premier Series Wilcox, a brand he first picked up at the 2022 Masters due to his injury issues. However, despite admitting that his ankles are better, the 82-time PGA Tour winner ditched Nike once again.

Notably, Nike’s ten-year deal with Tiger Woods is set to end this year. Multiple reports also suggest that the megabrand is planning to outsource its golf business. That would explain the eerie silence over Tiger Woods’ kicks that they were supposed to be working on. Apparently, Nike is planning to run their golf business through Original Equipment Manufacturers. In light of all this, if Nike decides not to renew their contract, who can partner with the former World No. 1?

Who is going to fill in Nike’s shoes?

Woods has all but ditched Nike in favor of FootJoy. The 166-year-old brand has a long history of making golf shoes. In fact, the company, then named Field and Flint Company, was the official footwear partner of the American Ryder Cup team in 1927. Currently, the brand is owned by Acushnet Holdings Corporation, which also owns major golf OEMs such as Titleist and Scotty Cameron.

Adam Scott was a long-time ambassador for the Footwear brand. Justin Thomas, a close friend of Tiger Woods, has also stuck with the brand since turning pro in 2013. Max Homa is another big name on the list. On the LPGA front, Jessica Korda, a six-time winner on the female circuit, became the first LPGA pro to be a brand ambassador for FootJoy. Aside from making golf shoes, FootJoy has also forayed into the apparel business, making golf gloves.

So FootJoy can definitely offer a lucrative partnership opportunity to the 82-time PGA Tour winner. However, Woods has an endorsement deal with TaylorMade Golf, a rival brand. It might cause some trouble should FootJoy decide to become his apparel sponsor. To make matters more complicated, TaylorMade Golf is also planning to expand its apparel business.

Can TaylorMade become the apparel sponsor for Tiger Woods?

TaylorMade Golf forayed into the apparel business earlier. But they are still recognized primarily for their golf equipment. The brand is owned by Centroid Investment Partners, a South Korean private equity firm. TaylorMade first partnered with Tiger Woods after Nike shut their golf business down in 2016.

The 15-time Major signed a deal with TaylorMade next year for an undisclosed amount. The former World No. 1 has also collaborated with the equipment giant to make P-7TW irons. Moreover, it is with TaylorMade that the 47-year-old golfer won his 15th major.

Notably, job postings on TaylorMade’s website list three openings in the apparel industry: director of e-commerce, social media manager, and marketing manager, indicating a potential business plan to increase their clothing output. So, if TaylorMade indeed amps up its apparel business, Tiger Woods has a great option at hand.

But Tiger Woods has lost his sheen… a long time ago

Woods is a 47-year-old golfer who has gone through a winless streak for five years between 2013 and 2018. Even when he came back to winning ways, a near-fatal car injury almost put a full stop to his career. As a result, he has won only three titles in the last five years.

A better part of the last decade was lost to personal and professional setbacks. Many of his big-money sponsors bid adieu; some didn’t renew their contracts, Nike and Upperdeck being the only exceptions. Forbes reported that the $105 million that he raked in from endorsements and appearances in 2009, at the pinnacle of his career, dwindled to a paltry $37 million eight years and a few personal and professional tourmoils later.

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Regardless, the sponsors who stuck and the ones who joined late in the party were rewarded multifold after Tiger Woods won his fifth Masters in 2019. Apex Marketing Group, a sponsorship analytics and consulting firm, revealed that Nike received more than $22.5 million from Tiger Woods’ final-round appearance alone. Compare that to the $12 million that they received from the 2018 Masters winner,

Patrick Reed. Monster Energy, which had branding on Woods’ bag, earned $960,000, while Bridgestone Golf, who became his golf partner after Nike’s exit, raked in $13400.

In the case of Woods, his very publicized tragedies and setbacks provide the byline that sponsors can latch onto. A comeback story about a man who was destroyed but not defeated. The old man keeps traversing through the sea to hook the giant marlin, so Tiger Woods once again stands on the verge of rebranding. But this time he might have to let go of the brand that stood by him through thick and thin.

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