ORLANDO, Florida – Tiger Woods has ended his 27-year partnership with Nike, the golf legend announced on Monday. Woods expressed his gratitude for the collaboration, stating that there will be another chapter in his career.
Nike bid farewell to Woods on Instagram, acknowledging his impact on the golf industry and society as a whole. Woods, who is still one of the most recognizable athletes in the country, has had a long-standing relationship with Nike despite losing other sponsorships due to a sex scandal.
The decision to part ways with Woods may signal Nike’s potential exit from the golf business. However, industry experts believe that Woods’ brand value remains high and he will likely find a new partner in the future.
Woods’ endorsement deal with Nike in 2000 was worth a record-breaking $85 million at the time. Over the years, he signed multiple deals with the company, including a 10-year contract worth approximately $200 million.
Despite a decline in public opinion, Woods continues to have a more positive image among sports fans compared to the average athlete, according to surveys by Q Score. His departure from Nike presents an opportunity for other golf clothing brands to appeal to a younger, less affluent demographic.
Woods’ influence extends beyond the golf industry. In August, he was appointed as the sixth player director on the PGA Tour policy board.
As Woods embarks on this new chapter of his career, it remains to be seen who his next brand partner will be. However, his impact on the golf industry and his role as a trailblazer for people of color cannot be understated.
In conclusion, Tiger Woods has ended his long-standing collaboration with Nike, marking a significant shift in his career. Despite the breakup, Woods remains a prominent figure in the world of golf and his influence transcends the sport.