Tiger Woods’s $500M Exit: Timeline of the Tiger-Nike Partnership Explored

Nike. It’s a brand that’s seen young athletes bursting into the scene, stood by them through their careers, and watched them grow, so much so that the brand became a part of their identity. After Michael Jordan took that first step in 1984, many others followed suit. From Serena Williams and Rafael Nadal to Cristiano Ronaldo and LeBron James. Who else? Tiger Woods. But a $500 million partnership that’s lasted nearly three decades, one that’s made Woods among the most influential athletes in the world, could be nearing its end.

The 15-time major champion signed his first deal with the sports apparel giant in 1996. With time, the Woods-Nike partnership blossomed into a very profitable relationship. In light of recent developments, here is a timeline of Tiger Woods’s Nike deal, from its inception to its possible expiration.

1996: The beginning of the Tiger Woods-Nike saga

The 82-time PGAT winner was only 20 years old when he signed the deal with the American sportswear giant. Nike saw his potential and offered him a five-year contract worth $40 million, unprecedented for a golfer at the time. Woods accepted the deal and made his professional debut at the Greater Milwaukee Open, famously announcing, “Hello, world.” 

Tiger Woods has been an integral part of Nike’s golf business. As per Joe Pompliano, Nike Golf was making $30 million in annual revenue before signing Tiger Woods. But just 2 years after signing the 5-time Masters Champion, that number increased to $300 million in annual revenue. And that led to a sporting milestone at the time, one they achieved together.

2001: The record-breaking deal

After winning his first major at the 1997 Masters by a record 12 strokes, Woods continued to dominate the golf scene. Four years after his iconic Augusta win, Nike rewarded him with a new five-year contract reported to be worth $100 million, making him the highest-paid athlete in the world. But that wasn’t all.

The same year, the ‘TW’ logo was introduced, and Nike named a conference center after Woods at its headquarters in Oregon. Notably, Woods wore Nike clothing from the start of his partnership but not their golf gear since Nike did not produce any until 1998. Woods switched to Swoosh golf clubs in 2001 and used them until 2016, when Nikе left the golf equipment business.

In 2000, Woods cut ties with the Titleist golf ball and switched to the Nike golf ball. Stunningly, post-switch, he went ahead and won all four major tournaments. In 2001, Nike also created a new golf ball known as Tour Accuracy TW. Seeing how successful their partnership was turning out to be, it was only logical to keep the relationship going. So that’s precisely what Nike did.

2006: Thе extеnsion

The 47-year-old maintained his supremacy in the golf world, winning six majors from 2002 to 2006. After 10 years of partnership, Tiger Woods and Nike again sat down with pen and paper and signed a seven-year agreement. The deal was estimated at around $20–$40 million per year, reflecting his status as the face of the brand. With this, though, was Tiger Woods inching toward his final contract with the sports giant?

2013: The last contract?

2009 was a difficult year for the golfer, following which he went through a very public divorce with his then-wife, Elin Nordegren, in 2010. At that time, he lost several sponsors, but the Swoosh stood by him instead of parting ways with him. The brand then offered him another contract in 2013. The terms of the deal were not disclosed, but it was reported to be worth around $200 million.

Also read: ‘Was the World to Me’: Tiger Woods Left Emotional After Charlie Woods Embarks on a New Journey

The president of Nike Golf, Cindy Davis, was very happy about the contract renewal with Woods. Expressing her joy, she said, “We are thrilled to continue our partnership with Tiger. He is one of Nike’s most iconic athletes and has played an integral part in Nike Golf’s growth since the very beginning.”

In the 27 years of togetherness, the 5-time Masters winner had earned approximately $500 million from the sports giant. His current Nike deal is set to expire at the end of 2023, and there are rumors that it might not be renewed. Neither Woods nor Nike have confirmed or denied these speculations, but it seems that their legendary partnership could be coming to a close.

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