One of the most impactful and lucrative athlete endorsement deals in sports history is now over.
On Monday, golf icon Tiger Woods confirmed growing rumors that he is ending his 27-year relationship with Nike. The athletic footwear and apparel company is believed to have paid Woods an estimated $500 million since signing the superstar in 1996 at just 20 years old and has been deeply intertwined with the ups and downs of his career, including 15 major tournament victories and 82 PGA Tour event wins. But Woods is parting ways with Nike for what “will certainly be another chapter.”
“I was fortunate to start a partnership with one of the most iconic brands in the world,” Woods said on X. “The days since have been filled with so many amazing moments and memories.”
Nike, for its part, was gracious publicly, posting on Instagram: “It was a hell of a round, Tiger. … You challenged your competition, stereotypes, conventions, the old-school way of thinking. You challenged the entire institution of golf. You challenged us. And most of all, yourself. And for that challenge, we’re grateful.”
The red polo Woods is wearing in that Nike post on Instagram became a staple of his Sunday rounds for years, symbolizing the deeply intertwined brand relationship between Nike and Woods.
Woods did not disclose his future endorsement plans or a timetable to reveal a decision, except to say “See you in L.A.,” likely referencing a plan to play in next month’s Genesis Invitational in west Los Angeles’ Pacific Palisades, Calif. Since returning from ankle surgery in 2022, Woods has notably played golf tournaments wearing FootJoy shoes. Even in what is likely the twilight of his pro career, the 48-year-old now stands as one of the major free agents in sports endorsements.
As the Swoosh Turns
The dissolution of the Nike-Woods relationship arrives as the company revealed plans last month to cut $2 billion in costs over the next three years, an initiative that will include staff reductions. Nike also has pulled back its presence in golf, including an end to equipment manufacturing in 2016. The company, however, still has a presence in the sport, particularly through its Jordan brand, manufacturing products such as shoes, gloves, hats, and shirts.
Jason Day additionally left Nike recently for relative newcomer Malbon Golf, but Rory McIlroy is among the stable of top golfers still with the brand.
