(qlmbusinessnews.com Tues, 9th Jan, 2024) London, UK —
“Breaking Tees: Tiger Woods and Nike Tee Off Separate Paths After 27 Years”
In a significant development, golfing legend Tiger Woods and sportswear powerhouse Nike have officially concluded their enduring partnership, which spanned over 27 years.
Since turning professional in 1996, Woods, a 15-time major golf champion, has been synonymous with Nike's products and equipment. Reflecting on this lengthy collaboration, Woods shared on social media, “The days since have been filled with so many amazing moments and memories, if I started naming them, I could go on forever.”
Nike reciprocated the sentiment, expressing it was an honour to collaborate with “one of the greatest athletes the world has ever seen.” In a statement to the , Nike acknowledged Woods' transformative impact on golf and sports in general, stating, “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.”
Woods initially inked a $40 million five-year contract with Nike when he turned professional at the age of 20. The partnership evolved into one of the most lucrative in sports history, coinciding with Woods' dominance in golf. Despite facing personal challenges and controversies, Nike stood by Woods when other major brands severed ties. Notably, in 2013, Woods signed a reported $200 million, 10-year contract with Nike.
As golfers often negotiate new contracts with sponsors in January, this announcement marks a significant shift for both Woods and Nike. The golfing icon, who recently returned to competition after a seven-month injury hiatus, expressed gratitude for his longstanding collaboration with Nike. In a social media statement, Woods thanked Phil Knight, Nike's co-founder and former CEO, for his “passion and vision.”
Woods hinted at future endeavors, stating, “People will ask if there is another chapter. Yes, there will certainly be another chapter.” He concluded with an optimistic note, “See you in LA!” alluding to the upcoming Genesis Invitational that Woods is hosting next month. Despite facing a limited schedule due to a leg injury in 2021, Woods remains confident in his ability to win on the PGA Tour as he continues his recovery from ankle surgery, committing to playing one event per month in 2024.
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