15-time golf champion Tiger Woods and sportswear brand Nike have mutually agreed to end their 27-year long-term partnership. Woods has been an ambassador for the brand’s products and equipment since turning professional in 1996.
At the age of 20, Tiger Woods signed a groundbreaking $40 million (Sh. 6.33 billion) contract with Nike, making it one of the most lucrative partnerships in sports history at that time.
“The days since have been filled with so many amazing moments and memories, if I started naming them, I could go on forever,” he wrote in his social media post.
Since that time, the 48-year-old golfing legend has dominated the sport for more than a decade, sealing his place as the second-highest men’s major champion, just three titles behind the leader, Jack Nicklaus.
In his long-standing contract with Nike, Woods reportedly signed a 10-year deal at one point, said to be worth $200 million. The 27-year partnership is now considered a win-win situation for both parties.
In 1996, the partnership came about when Nike sought an entrance route into the golfing industry. They struck gold when they launched their brand’s golf line with an upcoming young superstar, Tiger Woods.
“What better person in hindsight to then bring out this phenomenal teenage generational player to then launch their golf brand and apparel brand for Nike? He is golf, he is that person that brought the game to a massive amount of people over the last 25 years,” said Professor Tim Derdenger of Carnegie Mellon’s Tepper School of Business in US.
When Tiger Woods faced a nasty injury and was sidelined for 7 months, Nike stood by him throughout. Thi is despite major brands such as Gillette, Accenture and AT&T severing ties with him. In his injury statement, Woods said he was ‘fortunate’ to have partnered with Nike nearly three decades ago.
While Nike and Tiger Woods have been synonymous over the years, the specific reason for ending their partnership is yet to be revealed.
Many people have regarded this collaboration as one of the greatest in sports history, marking the end of an era. Some social media users have suggested that their break-up will hurt the brand more than it will do to Tiger Woods.
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“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” he added in his statement.
What next? It is not yet clear what Tiger Woods will decide to with his future. At the start of the new year, many golfers sign new contracts. Woods however made it clear that the show will go on and he will not stop playing gold anytime soon.
“People will ask if there is another chapter. Yes, there will certainly be another chapter. See you in LA,” he said.
