Tiger Woods’ Nike Deal: The Details of His Contract
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Tiger Woods and Nike confirmed Monday that they’re ending their partnership after 27 years, bringing to a close one of the most significant endorsement deals in the history of sports while supporting reports that the Swoosh is set to abandon golf all together.
Even for the loosest of golf followers, it’s hard to imagine Woods without his Sunday red Nike polo. Much like Nike was still a much smaller company before Michael Jordan, the Swoosh had a modest presence in golf before Woods. Entrepreneur Joe Pompliano said this month on his “Joe Pomp Show” podcast that Nike Golf jumped from just $30 million in annual revenue to $300 million two years later.
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In wake of Woods and Nike splitting ways, Footwear News is taking a look at the history of Tiger Woods’ Nike contracts.
Tiger Woods’ First Nike Deal
Woods inked his first contract with Nike following three consecutive U.S. Amateur Golf Championships. The deal was worth a reported $40 million over 5 years, which certainly seems a bargain now but was unprecedented for a golfer that had yet to even become a professional.
Nike was banking on the 20-year-old Woods becoming a star, and what the company ended up getting was one of the most dominant athletes in the world in the 2000s. Woods would win his fist Major at the 1997 Masters, in which he finished 18 strokes under par and won by 12 strokes, and his second at the 1999 PGA Championship.
Once the new millennium began, so two did Woods’ reign over the PGA. He’d win 12 of his 15 Majors throughout the decade and spent a record 281 consecutive weeks as the world’s number one golfer from June 12 2005 to Oct. 30 2010. In total, Woods was the world’s top golfer for 683 weeks, also a record. During his reign, the consensus was that Woods would break Jack Nicklaus’ record of 18 Majors.
In the same year of inking the deal, Nike released Woods’ first golf shoes, the Air Zoom TW and Air Zoom Sport TW. A year later, it would debut Wood’s first logo, which has been dubbed the “yin-yang.”
In 1999, Nike aired one of the most iconic commercials of all-time, as Woods juggled a golf ball for 28 seconds, including between his legs and behind his back, before striking the ball cleanly in midair. Woods famously only required four takes to complete the trick shot.
A Record Second Contract
In 2001, Woods signed a 5-year contract extension worth $105 that would then make him the highest-paid athlete endorser of all-time. This is also when the famous “TW” logo was first introduced, and Nike also opened the Tiger Woods Conference Center during the same year at its Oregon world headquarters.
At the beginning of his time with Nike, Woods was only wearing Swoosh-branded apparel, as the company wasn’t yet making golf equipment. Nike would begin making golf balls in 1998, although Woods didn’t start using them until 2000. 2001 would see Nike introduce its first golf clubs, and Woods began using them a year later until 2016, when the company left the golf equipment business.
Woods’ second contract marked the most dominant period of his career, as he won eight Majors from 2000 to 2005. The 2000 U.S. Open performance is widely considered the greatest ever in golf, as he finished 12-under par and won by 15 strokes. He also became the only player to ever win all four majors in a row, completing a “Grand Slam” across 2000 and 2001.
Woods’ Third Nike Contract
2006 saw Woods and Nike take pen to paper for a third time, with the deal reportedly worth $20 to $40 million annually. Nike was one of the few companies that would stick with Woods after his extra-marital affair scandal in 2009 saw Gatorade, AT&T, General Motors, and more all cancel their contracts.
Woods would win four more Majors over this time period: the 2006 Open Championship, 2006 and 2007 PGA Championship, and 2008 U.S. Open. The latter win is the most impressive of his career, as Woods played with two stress fractures and a torn ACL in his left knee. The next wouldn’t come until the 2019 Masters, however, as Woods was hampered by injuries and the fallout from the scandal.
The Fourth and Possibly Final Contract
Woods re-upped with Nike once again in 2013, with reports indicating the deal was worth as much as $200 million.
Upon signing the deal, Nike Golf president Cindy Davis said in a statement: “We are thrilled to continue our partnership with Tiger. He is one of Nike’s most iconic athletes and has played an integral part in Nike Golf’s growth since the very beginning. We look forward to sharing many more of the exciting awe-inspiring sport moments that Tiger is known to create in golf. At the same time, we will continue to utilize his insights to develop the most innovative products that support golfers reaching their full potential.”
When Woods was arrested for driving under the influence in 2017, Nike once again stuck by him. For his win at the 2019 Masters, his first major in 11 years, Nike released another commercial with footage dating back to when he was just 3 years old with a putter in hand.
The Split Is Official
In December, the “No Laying Up” golf podcast first broke the news that Woods and Nike would be parting ways. Both parties officially confirmed the news Monday through social media posts celebrating the illustrious run they had together.
Alongside an image of Woods with the text “It was a hell of a round, Tiger,” Nike said: “Tiger, you challenged your competition, stereotypes, conventions, the old school way of thinking. You challenged the entire institution of golf. You challenged us. And most of all, yourself. And for that challenge we’re grateful.”
Woods added: “Over 27 years ago, I was fortunate to start a partnership with one of the most iconic brands in the world. 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 brough this Nike and Nike Golf partnership together and I want to personally thnak him, along with the Nike employees and incredible athletes I have had the pleasure of working with along the way. People will ask if there is another chapter. Yes, there will certainly be another chapter. See you in LA.”
Because of the latter sentences, people are already speculating on where Woods may land next. Industry experts have suggested the most likely destinations are Malbon Golf, Skechers, and Greyson Clothier.
Should Nike leave golf entirely, there won’t be a question of who could step up to fill his void in the sport. Taking a broader view, however, it is still losing one of its largest athletes in the history of the company and in sports altogether.
About the Author:
Ian Servantes is a Senior Trending News Editor for Footwear News specializing in sneaker coverage. He’s previously reported on streetwear and sneakers at Input and Highsnobiety after beginning his career on the pop culture beat. He subscribes to the idea that “ball is life” and doesn’t fuss over his kicks getting dirty.
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