Tiger Woods, who made hundreds of millions of dollars from his 27-year partnership with Nike, announced Monday that he is ending the partnership
Tiger Woods announced on Monday that he was terminating his multimillion-dollar contract with Nike.
The golf legend first signed with the world-famous sports manufacturer in 1996 as an amateur. Woods went on to win 15 major championships, all of which he wore the Nike logo.
However, both Woods and Nike announced in statements that their respective partnerships will end after 27 years. Woods has made hundreds of millions of dollars from Nike over the life of the deal.
read more: Tiger Woods ends 27-year partnership with sponsor Nike
“Twenty-seven years ago, I was fortunate to enter into a partnership with one of the most iconic brands in the world,” Woods wrote in a statement on Monday. “The days since have been filled with so many amazing moments and memories that if I started naming them, I could last forever.”
“(Former Nike CEO) Phil Knight’s passion and vision brought the Nike and Nike Golf partnership together, and I want to personally thank him, as well as the Nike employees and Incredible athlete.”
“People will ask if there is a next chapter. Yes, there will definitely be another chapter. See you in Los Angeles! Tiger.”
Tiger Woods
Joe Pompliano of Huddle Up reports that Woods has earned between $500 million and $660 million from Nike over the past 27 years. During that time, Woods signed four separate deals with Nike and remained one of the brand’s star sponsors for nearly three decades.
In 1996, Woods reportedly signed a five-year contract worth $40 million that increased to $100 million over another five years in 2001. In 2006, Woods agreed to an eight-year contract extension worth US$160 million to £320 million. Woods’ most recent contract, signed in 2013, was worth $200 million over 10 years.
But how does that money compare to other sports icons wearing the brand?
LeBron James
In the NBA, LeBron James is currently one of the major stars of the sport wearing Nike.
James will become the first active NBA player worth more than $1 billion in 2022. As far as Nike’s revenue goes, Forbes reported in 2019 that the Los Angeles Lakers star earned $32 million per season through the brand.
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Michael Jordan
Before James, Michael Jordan wore the Nike brand throughout his career in the 1980s and 1990s. Jordan also owns the “Air Jordan” brand under Nike, which brings him millions of dollars in revenue every year.
In 1984, Jordan signed with Nike for the first time after being drafted by the Chicago Bulls. The deal reportedly lasted for nearly 40 years, with Jordan receiving a total of $1.8 billion from Nike.
roger federer
In tennis, Roger Federer was one of the sport’s greatest stars sponsored by Nike during his career, winning 20 Grand Slam singles titles.
In 2018, Federer signed a 10-year contract with Uniqlo worth $300 million. Prior to this, Federer had worked at Nike for more than 20 years. Pompliano also claimed The deal will see the tennis star earn $10 million a year, equivalent to the brand’s total revenue of about $200 million.