Golf legend Tiger Woods announced this week that his nearly three-decade partnership with Nike has come to an end, marking an end to one of the most iconic brand relationships in sports history.
Woods signed a multiyear $40 million deal with Nike when he turned pro in 1996 after finishing his collegiate career at Stanford. In 2000, he signed a $100 million deal with Nike — the largest sponsorship ever for an athlete — and he reportedly signed a ten-year extension in 2013 that was worth $200 million.
The company stood by Woods when a scandal involving extramarital affairs became public in 2009 and led to other brands dropping him. The partnership spanned 15 PGA major championship victories and 82 PGA Tour wins.
“Over 27 years ago, I was fortunate to start a partnership with one of the most iconic brands in the world,” Woods said in a statement posted on social media that included a photo of him posing with Nike founder Phil Knight. “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,” Woods continued. “People will ask if there is another chapter. Yes, there will certainly be another chapter. See you in LA! Tiger”
Nike posted on its Instagram account a photo of Woods, writing: “Tiger, you challenged your competition, stereotypes, conventions, the old school way of thinking.”
“You challenged the entire institution of golf,” the statement said. “You challenged us. And most of all, yourself. And for that challenge we’re grateful.”
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ESPN noted that Woods’ statement seemed to indicate that he would be playing in the Genesis at Riviera Country Club in Pacific Palisades on February 15-18.