Tiger Woods and Nike have officially done it. And by “it,” we’re referring to a stunning divorce after almost three decades of being synonymous with one another.
The development, which has recently been the subject of much speculation, was confirmed hours ago by both the 48-year-old professional golfer himself and the iconic sports brand.
Effectively punctuating a 27-year chapter that began when Woods turned pro circa August 1996 — the budding athlete famously declared for Team Nike right from the jump — the only thing more eyebrow-raising than the impact of this announcement are the numbers behind the partnership (more on this later).
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“Over 27 years ago, I was fortunate to start a partnership with one of the most iconic brands in the world,” Tiger Woods said in a statement posted via his X account.
“The days since have been filled with so many amazing moments and memories, if I started naming them, I could go on forever.”
He added: “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.”
After such a legendary run, it was only natural that Nike responded in kind.
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“Tiger, you challenged your competition, stereotypes, conventions, the old school way of thinking,” read a caption posted by Nike’s Instagram account.
“You challenged the entire institution of golf. You challenged us. And most of all, yourself. And for that challenge we’re grateful.”
While Tiger Woods has yet to declare for a competing brand post-Nike, the man has been spotted repping FootJoy golf shoes since his return from a harrowing car crash back in 2021. He’s also hinted at teeing off at the Genesis Invitational in February (“There will certainly be another chapter. See you in LA!”).
How much money has Tiger Woods made from Nike?
As alluded to earlier, the partnership between Eldrick “Tiger” Woods and Nike has certainly amounted to more than the famed red shirt association and what is perhaps the greatest candid ad placement in sports history (the immortal Masters shot on the 16th hole, 2005).
15 major championship victories, 82 PGA Tour wins, and countless memorable career moments aside — which has also been textured with a dramatic coating of personal struggles and comebacks from injuries — it’s consistently involved monstrous dollars.
After his record-breaking playing career at Stanford, Woods entered the big leagues and immediately inked a multi-year contract with the emblematic swoosh in 1996 reportedly worth US$40 million (AU$60 million).
At the time, this was history’s richest athlete endorsement deal; and proved a worthwhile investment given Nike’s golf division enjoyed tenfold growth within the first two years alone, adding a casual US$300 million (AU$445 million) to revenue.
During the very peak of the Tiger/Nike love affair, the former was netting an estimated US$30 million (AU$45 million) plus annually; while the latter would exceed US$800 million (AU$1.2 billion) in annual sales before ceasing production on all golf-related equipment circa 2016.
In fact, when Nike co-founder Phil Knight was asked if there was any better way for the company to spend its money than throw US$20 million (AU$30 million) in Woods’ direction every year during a stockholder meeting, he simply replied: “No.”
According to Forbes, all up, Tiger Woods’ biggest sponsor has earned him over US$500 million (AU$745 million) before taxes and agents’ fees.
This represents over 25% of his impressive US$1.8 billion (AU$2.7 billion) pre-tax career earnings, leaving his closest competition in Cristiano Ronaldo behind with a considerable US$300 million (AU$445 million) margin between them.
To date, Tiger Woods remains one of just four billionaire athletes next to NBA greats Michael Jordan, LeBron James, and Magic Johnson; and one of just two active billionaire athletes alongside the aforementioned King James.
