After 27 years of wearing Nike NKE shoes,
During golf tournaments, Tiger Woods will not be sponsored by the company.
“Over 27 years ago, I was fortunate to begin a partnership with one of the most iconic brands in the world,” Woods said on X, previously Twitter. “The days since then have been filled with so many great moments and memories, if I started naming them, I could go on forever. Phil Knight's passion and vision brought the Nike and Nike Golf partnership together, and I would like to thank him personally, along with the Nike employees and the amazing athletes I had the pleasure of Working with them along the way. People will ask if there's another chapter. Yes, there definitely will be another chapter. See you in LA!
Nike confirmed Woods' departure in an Instagram post on Monday.
“Tiger, you challenged your competitors, the stereotypes, the norms, and the old school way of thinking. You challenged the entire golf establishment. You challenged us. And most of all, yourself. It was one hell of a round, Tiger, and we… We are grateful for this challenge.”
Woods, 48, first signed with Nike in 1996, and signed multiple deals with the sportswear brand throughout his career. The total value of Woods' deals with Nike is said to be between $500 and $660 million.
Woods only wore Nike clothing during tournaments, and does not use its clubs anymore as Nike stopped manufacturing golf equipment in 2016 and has only sold golf apparel since then.
The 15-time major champion is one of only seven athletes with a net worth of more than $1 billion, according to Forbes. Other such athletes include Michael Jordan, Cristiano Ronaldo, Lionel Messi, LeBron James, Roger Federer, and Floyd Mayweather Jr.
Nike Inc. shares rose. down 0.15% during Monday afternoon trading and down 18.11% over the past 12 months.
from the archive: When LeBron James picked up Nike in 2003, he gave up $28 million, which could eventually net him $1 billion.
