How Much Money Has Tiger Woods Earned With His 27-Year-Long Lucrative Brand Deal With Nike?
For any sportsperson across the board, partnering with big brands can prove to be extremely lucrative since, in this quid pro quo situation, both entities can benefit from their target audiences. In recent news, American professional golfer Tiger Woods has parted ways with Nike after a mammoth association spanning 27 long years. With a billion-dollar net worth, Woods must have earned millions, thanks to the Nike partnership.
Tiger Woods’ Split from Nike
Tiger Woods and Nike have been in partnership for as long as people can remember. The iconic association became a benchmark of understanding and support between sportspeople and brands. However, this association came to an end on Monday with the duo announcing their split in a sort of cryptic message. Woods made a sentimental post on Instagram describing his journey with the brand and their mutual growth henceforth.
View this post on Instagram
On the other hand, the brand put out a statement of its own to inform people of their split. The statement read,
“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.”
The split comes at a time when Nike is knee-deep in rumors of shutting off the golf division and moving away from the sport. Whether it’s because of the sport’s lessening popularity or because of an internal brand decision owing to decreasing sales numbers, it is not clear yet. During the PNC Championship, Woods evaded questions regarding his relationship with Nike.
Tiger Woods’ Wealth Via Nike
Owing to Woods and Nike parting ways, this moment marks the second time the golfer is free of any partnerships. He has his pick of brands to choose from. Coming to Woods’ net worth, Forbes estimates a wealth of over $1.1 billion in the golfer’s name. During the PGA tour, Woods amassed $121 million alone.
After winning the US Amateur tournament in 1996, Nike’s founder Phil Knight recognized Woods’ potential and the golfer signed a 5-year $40 million contract with the sports brand which came to be known as one of the most profitable deals in golf ever. Subsequently, the deal was renewed with better numbers. In 2001, a five-year, $100 million contract was finalized whereas 2006 witnessed an eight-year deal worth between $20-40 million annually.
The relationship was indeed quid pro quo as Nike earned a screen time of over $22 million on CBS broadcast when Woods won the 2019 Masters tournament.
