Tiger Woods and Nike have called off their $500 million, 27-year association, bringing to end one of the longest and most prominent endorsement deals in sport.
In a statement posted on X (formerly Twitter), Woods wrote he was fortunate to start “a partnership with one of the most iconic brands in the world. The since have been filled with so many amazing moments and memories.”
Woods thanked Nike’s co-founder Phil Knight in the post, writing that, “Knight’s passion and vision” brought the partnership together.
“People will ask if there will be another chapter,” Woods wrote, adding: “Yes, there will certainly be another chapter. See you in LA.”
“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,” Nike posted on Instagram.
“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,” Nike said in a statement. “We watched him set records, challenge conventional thinking and inspire generations of people around the globe.9 hours ago
Buzz of Woods and Nike parting ways had begun surfacing a month ago when the golfer was seen wearing FootJoy shoes without his iconic Nike shirt.
Woods, now 48, was rocked by scandal in 2009, but Nike had stuck on with him.
In February 2021, Woods was involved in a car crash that threatened to disrupt both his life and career, before he returned to golfing in 2022. He missed most tournaments last year following another surgery on the ankle. Earlier, Woods would play in about 20 PGA Tour events every year.
In July, the largest seller of athletic footwear had reported an annual revenue of $51.2 billion in the fiscal year to 31 May.
In the same report, it said revenues from its Asia Pacific and Latin America market jumped 17% on higher revenues in all territories, led by Southeast Asia and India, Korea and Japan.
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