Tiger Woods.Photo:Mike Ehrmann/Getty
Mike Ehrmann/Getty
After 27 years, Nike is ending its partnership with one of the most famous athletes in the world.The sports brand andTiger Woodsboth announced they were going their separate ways on Monday, a split that ends a nearly three decade partnership between Nike and the famed golfer.
The announcement comes weeks after Nikesaidit plans to cut $2 billion in costs over the next three years.Woods, 48, has worn Nike clothing on the golf course since his professional debut in 1996.
His red shirt with a white Nike swoosh stitched on the left chest became synonymous with the sport’s Sunday afternoons, especially at the annual Masters tournamentwhere Woods won five timeswearing the famous outfit.
“Over 27 years ago, I was fortunate to start a partnership with one of the most iconic brands in the world,” Woods wrote ina statementon social media. “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.”
Tiger Woods.David Cannon/Getty
David Cannon/Getty
NBC Newsreportsthat Woods has made hundreds of millions of dollars while working with Nike.
His most recent contract with the brand in 2013 netted him about $200 million, according toThe Oregonian, whichreportedon the long-rumored split between Nike and Woods last month. The potential split was first discussed on the “No Laying Up” podcast last year.
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Nike has reportedly been distancing itself from golf in recent years. In 2016, the company stopped making golf gear, including clubs. TheOregonianreported that Woods began using TaylorMade golf clubs after Nike stopped making their own. The newspaper reports TaylorMade could be a frontrunner for the next brand Woods partners with following his split with Nike.
Tiger Woods.Ben Jared/PGA TOUR via Getty
Ben Jared/PGA TOUR via Getty
Woods’ first deal with Nike was reportedly worth $40 million over five years in 1996. It was the richest endorsement deal for a professional athlete ever at the time, according to ESPN. Woods soon began appearing in Nike television commercials alongside his father Earl that year – the same year he turned pro.
Woods signed a second five-year deal in 2001 that was worth roughly $100 million, according toThe Oregonian. He’d later sign an eight-year deal with the company for up to $40 million annually before inking his 10-year extension in 2013 that was reportedly worth about $200 million.Nike, an Oregon-based company, also released a statement Monday commemorating the memorable partnership.“Tiger, you challenged your competition, stereotypes, conventions, the old school way of thinking,” the companysaidin a statement. “You challenged the entire institution of golf. You challenged us. And most of all, yourself. And for that challenge we’re grateful.”
source: people.com
