Tiger Woods announces $500m Nike divorce
Tiger Woods has confirmed he is going through another split after ending one of the most iconic deals in professional sport.
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Tiger Woods is going through another divorce.
Woods announced Monday morning that he and Nike are parting ways after a 27-year partnership that has existed throughout his storied career.
“Over 27 years ago, I was fortunate to start a partnership with one of the most iconic brands in the world,” Woods wrote in a statement on X, formerly known as Twitter, that included a photo of him and Nike founder Phil Knight.
“The days since 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.”
What could that “next chapter” be?
Woods has had a relationship with Taylor Made since 2017 and currently uses Bridgestone balls, The New York Post reports.
According to CNBC, there were also rumours that Woods would be going to On Running — the company tennis legend Roger Federer joined after leaving Nike in 2019.
However, CEO Marc Maurer dispelled that notion while speaking to reporters at the IRC Retail Conference in Orlando on Monday.
“We also heard the rumors, so it’s always interesting what’s out there we hope that Tiger finds a great new partner and it’s not going to be us,” Maurer said, per CNBC.
The “LA” reference likely hints that he will be in the field for the Genesis Invitational next month.
Woods, 48, plans to play in one tournament each month after having ankle surgery last year.
He finished 18th in the 20-player Hero World Challenge in early December in what was his first tournament since last year’s Masters.
The first hints of Woods’ unhappiness with Nike came after he first returned from a car accident that left him with severe leg injuries wearing Footjoys in 2022.
The 15-time Major winner last signed a 10-year, $200 million contract with Nike in 2013 and is estimated to have been paid $500 million overall by the sneaker giant.
“Tiger, you challenged your competition, stereotypes, conventions, the old school way of thinking,” Nike said in a statement via ESPN.
“You challenged the entire institution of golf. You challenged us. And most of all, yourself. And for that challenge we’re grateful.”
In a separate statement, Nike said Woods, the son of an African-American father and Thai mother, “broke barriers for all of sport.”
“We watched him set records, challenge conventional thinking and inspire generations of people around the globe,” Nike said. “We are grateful to have been a part of it. We wish him the best in the future.”
The iconic sporting goods brand helped transform Woods into golf’s first billionaire
Woods and Nike became synonymous over the course of the 48-year-old American’s career, from the moment he announced his professional debut in 1996 with an acclaimed Nike ad campaign where he declared simply: “Hello World.”
Initially, Woods’ partnership with Nike was limited to clothing, but the sporting goods giant later went into the manufacture of balls and clubs, in part driven by Woods’ success in broadening golf’s global appeal.
Nike remained a steadfast supporter of Woods throughout the company’s partnership with the golfer, most notably in 2009 when his career was upended by the sex scandal that shattered his clean-cut image.
While other sponsors walked away, Nike, who from the get-go viewed Woods as the same sort of generational talent as NBA superstar Michael Jordan, stood firm.
Woods in turn repaid that loyalty even after Nike moved away from the golf equipment business in 2016, continuing to wear the brand’s clothing.
However signs the partnership was drawing to a close began to emerge following Woods’ horrific 2021 car crash in California that left him with serious injuries and almost led to an amputation of his right leg.
Woods has worn Footjoy shoes since the accident, stating that they offered greater stability for his ankle, fueling speculation about the status of his Nike deal.
Speaking at the PNC Championship last month, Woods was coy when pressed by reporters about whether his most recent 10-year contract with Nike — which expired in 2023 — would be renewed “I”m still wearing their product,” Woods said at the time.
— This story originally appeared on nypost.com with AFP
Originally published as Tiger Woods announces $500m Nike divorce
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