Tiger Woods terminates $600 million Nike partnership after 27 years

The 15-time major golf winner was 20 when he initially signed a $40 million contract with the iconic sports brand in 1996.

Tiger Woods’ longest association, a nearly three-decade partnership with Nike, has officially ended.

The 48-year-old golf great has represented the renowned sports brand on the course for 27 years, placing Nike behind two of the most successful sports collaborations in history: Tiger’s endorsement and their billion-dollar Air Jordan agreement with NBA superstar Michael Jordan.

Both the 15-time major winner and Nike maintained their once-record-breaking sponsorships despite their individual setbacks, ranging from the professional criticism Tiger received following his headline-making romance with ex-wife Elin Nordegren to Nike’s discontinuation of its golf equipment business.

Tiger stated in a statement on X, then known as Twitter, announcing the breakup, “Over 27 years ago, I was fortunate to start a partnership with one of the most iconic brands in the world.”

He described it as follows: “The days have been filled with so many amazing moments and memories, if I started naming them, I could go on forever.”

The sports duo’s first contract in 1996 was reportedly worth $40 million, but when it was extended in 2001, they increased the agreement to a then-record-breaking $100 million. After 27 years, the arrangement expires with a reported lifetime worth of more than $600 million.

Moreover, Tiger is one of just three professional sportsmen with a billion-dollar net worth. Jordan, worth $3 billion according to Forbes, was the first to accomplish so in 2014, followed by Tiger Woods, with $1.1 billion, and LeBron James, valued $1 billion.

Tiger also mentioned Nike co-founder Phil Knight, whose tale about the origins of the Jordan brand was recently recounted in the Golden Globe-nominated film Air, starring Ben Affleck and Matt Damon.

In a letter, he said: “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.”

Tiger, who has had a tough two years following his 2021 car incident and several operations, concluded: “People will ask if there is another chapter,” to which he replied, “Yes!” “There will definitely be another chapter!”

Though Tiger is now on a return, it is uncertain whether he will find a new brand to represent before perhaps retiring. Though he continued to use Nike despite having to switch golf clubs due to the 2016 closure of their golf gear line, in the aftermath of his automobile accident, he was sighted on the course wearing Foot-Joy shoes instead, which he ascribed to fresh injuries.

Nike issued their own comment on Instagram, posting a shot of their star ambassador with the caption, “It was a hell of a round, Tiger.”

The message continued: “Tiger, you challenged your competitors, preconceptions, norms, and the old school way of thinking. You challenged the whole golf industry. You challenged us. Most importantly, focus on yourself. And for that task, we are glad.”