Arguably the greatest Golf player ever, Tiger Woods has ended his 27-year collaboration with Nike, one of the biggest sports apparel brands. Woods first signed a contract with Nike when he was just 20 years old. For reference, UFC was just 3 years old, Bayside Boys’ song Macarena was the talk of the town.
After that, it was a fairytale ride, as Woods grew up to be one of the most popular and marketable Golf players in the history of the sport.
Woods and Nike- a match made in heaven
Woods started to make a name for himself after delivering remarkable performances and winning major tournaments in the late 90s. Tiger is tied for the most wins in PGA Tour events with 82 and has 15 major championships to his name.
Woods announced the split on Monday on his social media handle
“Over 27 years ago, I was fortunate to start a partnership with one of the most iconic brands in the world. The days since have been filled with so many amazing moments and memories, if I started naming them, I could go on forever,” Woods wrote. “[Former Nike CEO] 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.”
Nike bid farewell to Woods on Instagram, by posting a picture of him with the words “It was a hell of a round, Tiger”.
Nike went on to add “Tiger, you challenged your competition, stereotypes, conventions, the old school way of thinking. You challenged the entire institution of golf. You challenged us. And most of all, yourself. And for that challenge we’re grateful”.
Nike’s 5-year endorsement contract with Woods in 2000 was worth an estimated $85 million. It was the biggest endorsement contract in sports history at the time.
Is Nike trying to get out of the golf business?
Nike stayed loyal to Woods even when a sex scandal drove most of Woods’s other major sponsors like Gatorade, AT&T, and Accenture away from the golf legend, making him lose an estimated $20 million.
Fans are wondering if Nike is trying to get out of the golf business. Nike has stopped selling golf balls and clubs, they only sell golf clothing and footwear now.
Eric Smallwood, president of Apex Marketing Group, also believes in this theory “Why is Nike separating from Woods who has been a long-time brand ambassador for the brand? It could be that Nike is looking to get out of the golf business”.
Nike has stayed with Woods through the highs and lows of his career but the ending of their relationship with Woods came as a bit of a surprise for fans and it made them wonder if it was Nike’s way of announcing their departure from the sport.
