Golf legend Tiger Woods announced the end of his historic 27-year partnership with Nike in a statement on social media Monday afternoon.
The parting of ways between Nike and Woods ends the most lucrative business deal in history between a player and sponsor.
— Tiger Woods (@TigerWoods) January 8, 2024
Nike was a gold-standard sports apparel company in the late ’90s due to their partnerships with Michael Jordan and other high-profile athletes. However, their golf department was lacking compared to their competitors when Woods came on the scene. In the years after Woods started sporting the “swoosh,” the popularity of the Nike golf brand soared and became a major money-maker for both Woods and Nike Co-Founder Phil Knight.
Tiger Woods and Nike co-founder Phil Knight attend the Tiger Woods Foundation’s 20th Anniversary Celebration at the New York Public Library on October 20, 2016, in New York City. (Gustavo Caballero/Getty Images)
Woods’ success on the golf course, 15 major championships won while wearing Nike apparel every time he hoisted a trophy or put on a jacket, made the golf legend seem just as synonymous with Nike as Michael Jordan or LeBron James.
Yet, shifting fortunes for Woods led to a shift in his relationship with his largest sponsor. In 2016, Nike stopped producing golf equipment after Woods suffered several serious injuries that kept him on the sidelines. As a result of setbacks on and off the golf course, Woods has only competed 13 times in the last four years and has only three PGA wins over the last decade.
While Woods’ best playing days are behind him, it’s a mistake to think he’s altogether leaving the scene. He still plans to play competitively and is reportedly preparing to launch a new apparel line shortly.