Tiger Woods And Nike: A Legendary Partnership Comes To An End

Tiger Woods is known as much for his dominance on the golf course as the red Nike shirt and black hat he wore for many of his victories. But after almost three decades, his legendary partnership with the apparel company is over.

The 48-year-old announced Monday in a post to social media site X (formerly Twitter) that he and Nike were no longer affiliated. His agent, Mark Steinberg of Excel Sports, confirmed the end of their deal to the Associated Press.

“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. “[Nike co-founder] 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.”

Woods, a 15-time major champion with 82 career PGA Tour victories, drove plenty of sales and publicity for the brand at the height of his popularity—similar to basketball superstar Michael Jordan. And, not surprisingly, the relationship was lucrative for Woods, too, as he amassed a massive fortune since turning pro.

When Did Nike Sign Tiger?

Nike linked up with Woods in 1996 when the golfer joined the pro ranks. Woods was already considered golf’s next great phenom, having won three consecutive U.S. Amateur championships. “I guess, hello world, huh?” he said at a news conference for that year’s Greater Milwaukee Open, referencing the marketing campaign that kicked off their relationship.

According to the Associated Press, Woods initially signed with Nike for a five-year deal worth around $40 million (approximately $77.2 million when adjusted for inflation as of November 2023). Although that was considered a shocking amount of money at the time, Tiger’s father, Earl Woods, famously called it “chump change.”

Earl was proven correct within eight months, as Tiger won four tournaments in that stretch, including the Masters, to become the first Black golfer to win a major championship. (Tiger is also half-Thai.) Soon, he would be one of the most recognizable athletes in any sport.

Woods wore the company’s clothing and used its clubs and golf balls, and Nike eventually created a line of golf apparel and shoes with Woods’ name and logo on them. The red shirt became Tiger’s frequent Sunday apparel, signaling that he was in contention for a win in the final round.

How Much Did Nike Pay Tiger?

According to ESPN, Woods and Nike renewed their deal three times over the course of his career. By 2001, the value of their alliance had more than doubled. Nike gave Woods a five-year extension worth a reported $100 million. Then, according to the Associated Press, Woods’ next extensions in 2006 and 2013 were reportedly worth a combined $360 million.

Doing the math, that means Nike paid Woods at least $500 million over the course of their tenure. According to Golf.com, the real number is probably higher, as there have been reports the value of his 2006 extension was closer to as much as $40 million annually.

Nike stopped manufacturing golf equipment in 2016 but continued its apparel relationship with Woods and some of his opponents. Tiger began using TaylorMade clubs and officially signed with that brand in 2017.

Nike reacted to Woods’ message with its own social media post Monday. “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,” the company wrote on Instagram.

What Is Tiger Woods’ Net Worth?

According to Forbes, Woods’ total fortune is estimated around $1.1 billion dollars as of January 2024. With Golf.com reporting that Woods has made just under $121 million in winnings on the PGA Tour, that means his Nike deal represents a sizable portion of his wealth.

Forbes estimates that Woods has made $1.8 billion during his golf career when adding up all his winnings, appearance fees, and valuable sponsorships throughout the years. In addition to Nike, Woods has had partnerships with other big-name brands like Gatorade, Rolex, and Gillette.

Does This Mean Tiger Is Retiring?

Woods, who is still dealing with the effects of a February 2021 car accident that nearly ended his career, didn’t mention any specific future plans in his announcement. But, he strongly hinted that he will be back on the course soon. “People will ask if there is another chapter. Yes, there will certainly be another chapter. See you in LA!” he wrote.

That last part is believed to be referencing an upcoming tournament, the Genesis at Riviera Country Club in Pacific Palisades from February 15 to 18. Woods hosts the event annually—as it benefits his foundation—and his message suggests that he will participate.

Most recently, Woods played with his 14-year-old son Charlie at the PNC Championship in December. The special event was held in Orlando, Florida, and features past major champions and their family members. His 16-year-old daughter, Sam, served as his caddie.