Nike & Tiger Woods End 27-Year Partnership  

A sight known to most is Tiger Woods wearing a red T-shirt with the Nike brand’s prominent logo. The world-leading golfing legend has had a long-standing, fruitful endorsement deal with the iconic sports brand for almost three decades, but after 27 years, the two have decided to part ways on good terms, according to The Wall Street Journal.

Talking about his time with Nike, Woods wrote in a statement posted on X (previously Twitter) saying it was “filled with so many amazing moments and memories,” and he showed gratitude toward Nike’s co-founder, Phil Knight.

Toward the end of his statement, he said, “People will ask if there is another chapter. Yes, there will certainly be another chapter.”

Showing the same appreciation, Nike called Woods “one of the greatest athletes the world has ever seen” in a statement and wished him the best going forward. Nike stated, “Throughout the course of our partnership, we have witnessed along with the rest of the world, how Tiger not only redefined the sport of golf, but broke barriers for all of sport.”

Nike and Woods have enjoyed a great synergy since 1996 when he started playing golf professionally, and in 2000, the leading sports brand gave the golfing champion a deal worth over $100 million, which was the most lucrative deal any athlete had ever landed at the time.

The two have been loyal to each other throughout their partnership. When Woods’ career was shaken up by a scandal with extramarital affairs in 2009 — leading many other large companies to end their endorsement deals — Nike stood by him.

In 2016, when Nike exited the golf equipment business, Woods sourced new clubs to use but continued to wear the brand’s outfits when playing.

When Woods recovered from a car crash in 2021 that threatened his career, he began wearing shoes made by FootJoy, and this led to speculation that he may move on from Nike. However, Woods set the record straight at the 2022 Masters, saying, “I needed something different, something that allowed me to be more stable.”

The end of this partnership has raised some questions as to who will partner with 48-year-old Woods next, especially since his career is not on the same trajectory after the 2021 crash, and he played sparingly last year as he was going through surgery for his ankle.

Recently he said he hoped to play more tournaments by increasing to once a month. However, in the early parts of his career, he played around 20 PGA Tour events a year. Even though Woods doesn’t play as much, he’s still a legend in his field and doesn’t have a direct rival with the same level of fame to boost the profile of any brand.

Nike has seen a decline in sales in recent years, which is what led to them stepping back from making golf clubs. The sales of clubs had fallen by 18% to $579 million in 2017. At that time, Nike’s total turnover was $34.35 billion.

Currently, Nike’s annual revenue is at $51.22 billion, and even though it still sponsors other prominent names in golf such as Rory McIlroy, Scottie Scheffler, and Brooks Koepka, a large portion of its sales come from sports such as running and basketball.

The company said in a statement, “Golf remains an important business for Nike. We have a deep roster of talented golf athletes that we are fully committed to and invested in. We will continue to design, create and sell world-class innovative golf apparel and footwear.”