Los Angeles- Based Tiger Woods Starts the New Year Off Right After His Nike Deal Ends
One of the most renowned and lucrative partnerships in sports has come to an end. Tiger Woods, 48, and apparel giant Nike announced on Monday they are parting ways after 27 years together – ending one of sports’ most storied sponsorship agreements. Nike signed Woods when he turned professional golf in 1996; their relationship became synonymous with his rise through golf’s ranks. They extended their contract by another 10 year period worth millions each year in 2013.
These companies did more than sell clothing and equipment together – they worked closely together on marketing and advertising campaigns, such as one featuring Woods at age 3 holding up a putter before his parents. That commercial was part of an initiative designed to show Woods overcoming challenges to reach great heights in his game – something fans found relatable.
Recently, however, their relationship had begun to change. Woods’ career has been marred by injuries such as multiple back surgeries, a car crash that resulted in his leg being fractured, and ongoing knee issues. Furthermore, his tournament schedule has reduced dramatically since 2009 when one major win occurred and extramarital affairs and cheating scandals emerged as key facets.
As long as he remains on the course and a draw for fans at events, Tiger remains an attractive draw – drawing in significant endorsement dollars in return. As one of only two successful PGA Tour players to have ever won 15 major championships (behind only Jack Nicklaus), and overall 82 Tour victories – his positive ratings may have dropped among sports fans but remain an attractive partner for brands looking to connect with golf’s largest audience.
Nike did not reveal a reason for their decision, but many speculate that it is due to their golf business not being profitable in recent years, leading them to reduce costs. Woods did not specify where he’d go next but did mention participating in his Genesis Invitational tournament at Riviera Country Club in Pacific Palisades (part of Los Angeles) Feb 15-18 (a tournament he hosts and that benefits his foundation) where he made his competitive return following long recovery time from injuries suffered in a crash last month – wearing FootJoy golf shoes at that event last month when making his comeback – with more announcements likely in coming weeks!
- Friday Intraday Trading Sees Nvidia’s stock Market Cap Momentarily Cross $2 Trillion
- Trump’s January 6 Civil Cases Proceed While Criminal Case Is Halted
- Trump Delivers Speech at the Columbia Black Conservative Federation Gala
- Trump Declares Strong Support for IVF Following Alabama Supreme Court Decision
- Schumer in Ukraine Declares US Backing During House Aid Standoff
