The 48-year-old’s agreement with the brand goes back to his initial £31.38m five-deal with the company that he signed all the way back in 1996. He put pen to paper on that deal upon turning professional and wore the firm’s apparel on the way to five Masters Tournament titles.
Across the near three-decades he spent with Nike, he drew within three triumphs of Jack Nicklaus’ all-time record for men’s major championship victories – winning 15. However, eagle-eyed observers will have noted that he has played with TaylorMade golf clubs going back to 2016 and FootJoy footwear since his comeback following his car accident back in 2021.
His last full contract with Nike was signed back in 2013, with this decade-long deal now having run its course. Their partnership proved particularly lucrative for both parties in that time, though, with Woods earning an estimated £392m over those 10 years.
Speaking about the decision to part ways, the resurgent golf legend said: “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.
“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. People will ask if there is another chapter. Yes, there will certainly be another chapter. See you in LA”
Likewise, Nike also thanked him for 27 years of partnership, adding: “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. We are grateful to have been a part of it. We wish him the best in the future.”
His earnings with Nike were dwarfed by some of the world’s other most recognisable sporting greats in more recent times, however. Former Manchester United and Real Madrid superstar Ronaldo is currently bound to a lifetime deal with Nike and makes an estimated £18.83 million per year as a basic payment via the agreement signed in 2016.
Essentially, the Portuguese icon will earn approximately £780m from the partnership as one of the leading athletes on their books. With Ronaldo boasting 617 million followers on Instagram, for instance, the extra exposure his profile brings has added value for Nike who made over £313.74m from the partnership in 2018.
Likewise, Los Angeles Lakers legend LeBron has a similar deal in place with the Oregon-based firm and pulls in an estimated £25m every year as part of the agreement, as per Forbes. The world-famous basketballer’s business partner Maverick Carter also told GQ that this lifetime deal – signed in 2015 – is worth $1 billion (£780m).