A picture of Tiger Woods of The United States throughout the pro-am as a sneak peek for the Hero World Challenge at Albany Golf Course on November 29, 2023 in Nassau.
David Cannon|Getty Images
Tiger Woods’ 27- year collaboration with Nike has actually pertained to an end. The super star golf enthusiast revealed the news in a declaration Monday on social networks platform X.
“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 wrote.
Mark Steinberg, Woods’ long time representative, informed CNBC that the golf enthusiast made an organization choice to not restore with Nike.
The statement followed months of speculation that the 2 would separate. Nike validated the news on Instagram with a photo of Woods in his renowned red polo, stating: “It was a hell of a run.”
In a declaration, the business stated: “For over 27 years, we have had the honor to partner with Tiger Woods, one of the greatest athletes the world has ever seen. 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. We watched him set records, challenge conventional thinking and inspire generations of people around the globe. We are grateful to have been a part of it. We wish him the best in the future.”
There’s no word yet on Woods’ prepare for a future recommendation offer. But he stated on social networks: “There will certainly be another chapter.”
Some current speculation about Woods’ next chapter have actually indicated On Running, the Swiss brand name which tennis terrific Roger Federer took part 2019 after he left Nike.
Marc Maurer, co-CEO of On Running, attended to the speculation on Monday at the ICR Retail Conference inOrlando “We also heard the rumors, so it’s always interesting what’s out there we hope that Tiger finds a great new partner and it’s not going to be us,” he stated.
Golf devices maker TaylorMade, with which Woods, 48, has actually had a relationship with because 2017, might be another prospective landing area for the 15- time significant winner.
Analysts aren’t anticipating a huge effect with the news as the reports have actually been flowing about Woods’ departure for months.
“We continue to believe the company has endorsements with some of the biggest name athletes in the world and we would expect that trend to continue for the foreseeable future,” stated Brian Yarbrough, a Nike expert for Edward Jones.
Nike has actually been silently ramping down on golf for several years as it wasn’t a big cash maker for the brand name. In 2016, the Oregon sports clothing maker revealed it would stop making golf devices entirely.
Yet Woods brought considerable direct exposure to the Nike brand name. And, throughout his profession, Woods made a reported $500 million from “the swoosh.”
Eric Smallwood, creator of Apex Marketing, approximates that when Woods goes 4 rounds, he’s offering Nike with $2 million to $4 countless direct exposure.
Likewise, when Woods switched his Nikes for FootJoy shoes at the 2023 Masters, he offered the brand name $3.2 countless direct exposure.
Woods offers much more direct exposure for Nike than even a LeBron James due to the rate of play of golf compared to basketball, he stated. “Golfers have longer longevity,” Smallwood stated.
— CNBC’s Gabrielle Fonrouge added to this report.
This is an establishing story. Check back for updates.
