Nike and Tiger Woods part ways after 27 years of collaboration

Tiger Woods and Nike have decided to stop working together after being partners for over 27 years.

The famous golfer has been using the brand’s products and equipment since he started playing professionally in 1996.

Woods said on social media that the days have been great and full of wonderful moments and memories. There are so many that it would take a long time to name them all.

Nike said they were proud to work with “one of the best athletes in the world“.

Woods was 20 years old when he signed a five-year contract with Nike for $40 million in 1996.

The deal was very successful and made a lot of money. Woods was really good at golf for more than ten years and is now the second best male golfer, only three wins behind Jack Nicklaus.

Woods became one of the most famous athletes in the world and signed many deals with Nike, including a 10-year contract worth $200 million.

Tim Derdenger, a teacher at Carnegie Mellon’s business school, said that the partnership between Woods and Nike was good for both of them.

In 2013, a professor studied the effect of Tiger Woods using Nike golf balls instead of his old ones on Nike’s sales. Woods started using Nike balls in 2000.

Prof Derdenger said that Nike paid Woods $200 million to be their sponsor for 10 years. The research found that Nike made back 60% of that money through sales of their golf balls in the US.

He said that when Woods started playing golf professionally in 1996, Nike wasn’t very well-known in the golf industry. But they became very successful when they started selling golf equipment with Woods.

“Who better to introduce this amazing young golfer and launch their golf and apparel brand for Nike. He has been a big part of the game for the past 25 years,” said Prof Derdenger.

Nike’s way of doing things is to find really talented athletes and make them the face of their brand in order to sell more Nike stuff. And they still do it today.

Woods came back to playing in November last year after being injured for seven months. He said on social media that he was lucky to have worked with Nike for almost thirty years.

Nike stood by Woods throughout his career, even when there were tough times, like when there was a scandal about his personal life in 2009, and he admitted to cheating on his wife.

Big companies like Gillette, Accenture, and AT&T stopped working with Woods. Nike said they were still supporting him.

On Tuesday, Woods said thank you to the people who work with him and other athletes. He also thanked Phil Knight, who helped start Nike. Woods said Knight has a lot of passion and good ideas.

Nike told the BBC that they were thankful to have been a part of Woods’ career.

“During our time working together, we have seen how Tiger changed the game of golf and opened up opportunities for all sports,” the statement said.

We don’t know why Nike and Woods are not working together anymore, but a professor thinks it will make Nike look bad. He also said that Nike’s golf division has had a hard time for the past five to seven years.

In 2016, the company decided to stop selling golf clubs, bags, and balls because they were not selling well. Instead, they started focusing on selling golf shoes and clothes. They also made a deal to sponsor professional golfer Rory McIlroy.

However, Prof Derdenger doesn’t think McIIroy is as influential as Woods in promoting and selling products, despite McIIroy’s popularity.

Without Michael Jordan and Woods, Nike would not be as successful as it is today.

“Those two athletes are closely linked with Nike and the success of Nike. ”

In the last few years, Woods has been using TaylorMade clubs, but he switched to Bridgestone balls which was probably easier for him because Bridgestone used to make golf balls for Nike. That’s what Prof Derdenger thinks.

What comes after this.

In January, golfers and their sponsors often agree on new contracts.

Woods stopped people from asking about his future by saying: “People will wonder if there is more to come. ” Yes, there will definitely be another part of the story.

He said to his fans, “I’ll see you in LA. ” That’s where Woods will be hosting the Genesis Invitational next month.

Woods has not been able to compete much since he hurt his leg in a car accident in 2021. In December, he said he would only compete in one event per month in 2024 because of his ankle surgery. But he still thinks he can win on the PGA Tour.

Prof Derdenger said that Tiger Woods does not need to create his own line of products. He is already a well-known enough brand on his own.

“Even though Michael Jordan stopped playing basketball 20 years ago, people are still purchasing his shoes. “