Tiger and Nike were like peanut butter and jelly.
Legendary golfer Tiger Woods and his 27-year relationship with Nike has come to an end. He announced the stunning news on his social media platform Monday, ending one of the most groundbreaking partnerships in professional sports history.
“Over 27 years ago, I was fortunate to start a partnership with one of the most iconic brands in the world,” Woods said in a statement posted to his X account. “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.”
Mark Steinberg, Woods’ longtime agent, told CNBC that the golfer made a business decision to not reup his contract with Nike.
Embed from Getty Images“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,” Woods wrote.
The announcement came after months of chatter that the two would separate. Nike confirmed the news on social media with a picture of Woods in his signature red polo, saying, “It was a hell of a run.”
Over more than a quarter-century, Woods’ traditional Sunday attire of a red Nike shirt, black hat and black pants became infamous with men’s professional golf.
In a statement, the company said: “For over 27 years, we have had the honor to partner with Tiger Woods, one of the greatest athletes the world has ever seen. 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 watched him set records, challenge conventional thinking and inspire generations of people around the globe. We are grateful to have been a part of it. We wish him the best in the future.”
From the second Woods took the leap to the professional ranks in August 1996, after record-breaking collegiately career at Stanford University, he donned Nike apparel from head to toe. The partnership included 15 major championship victories, 82 PGA Tour wins, and countless comebacks from injuries and personal tragedies.
He inked endorsement deals with Nike and Titleist. The multiyear contract with Nike was reportedly worth $40 million, which was the most lucrative endorsement deal for a professional athlete in history at that time.
Woods and Nike met at the negotiation table and renewed their contract on three different occasions. He signed a massive 10-year extension with the apparel giant in 2013, which was worth about $200 million, according to The Oregonian. He used Nike clubs and golf balls until the Oregon-based company closed its golf line in 2016. He has been using TaylorMade clubs and Bridgestone balls since then.
There is no word as of now on Woods’ plans for a future endorsement deal, but he made in clear on social media, “There will certainly be another chapter.”
