Tiger Woods and sportswear giant Nike have both announced the termination of one of sports' most lucrative and high-profile branding deals after 27 years of good, bad and ugly moments together.
Since turning professional in 1996, the 15-time major golf champion has been an avid user of Nike's products. Reflecting on their long-standing collaboration, Woods expressed his gratitude, acknowledging the countless unforgettable moments that marked their journey together.
"The days since have been filled with so many amazing moments and memories, if I started naming them, I could go on forever," Woods said in a statement posted on his social media account.
In response, Nike conveyed deep admiration, describing the collaboration as an honour, especially with someone of Woods' stature, hailing him as one of the greatest athletes in history. "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", part of the statement read.
The statement underscored Woods' unparalleled impact not only on golf but on the broader landscape of sports, emphasising the transformative role he played.
The partnership commenced with a $40 million five-year deal in 1996, evolving into one of the most financially significant alliances in sports history. Woods' dominance in golf elevated his stature, securing multiple contracts with Nike, including a reported $200 million 10-year deal in 2013.
Amidst the customary negotiations between golfers and sponsors in January, Woods, who returned to the competition after a recent injury hiatus, expressed gratitude for the near three-decade partnership with Nike, acknowledging their shared journey.
Notably, Nike remained steadfast in its support of Woods during challenging periods, notably standing by him during a high-profile scandal in 2009. While other major brands distanced themselves, Nike extended its unwavering support, emphasizing their commitment despite the tumultuous phases in Woods' career.
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