Nike and professional golfer Tiger Woods have signed a new endorsement deal. It will replace the current deal between the two parties that is set to expire this year. This deal was imminent, it was just a matter of when it would actually happen. Both groups wanted to stay partners, and that is ultimately how it’s going to play out. Tiger’s agent, Mark Steinberg, talked to ESPN.com about the new deal and said,
We’re comfortable with where we ended up and the career trajectory that Tiger will be on with Nike. I’m thrilled we were able to complete this deal.
The existing deal was signed by Woods back in 2006, which meant that he would be with Nike for his entire golfing career up until now. And it seems clear now that Nike and Woods would like to remain partners all the way through his career. However there are no details at this time regarding Woods’ new contract.
As for Nike’s thoughts on the deal, President of Nike Golf, Cindy Davis had this to say to ESPN.com,
We are thrilled to continue our partnership with Tiger. He is one of Nike’s most iconic athletes and has played an integral part in Nike Golf’s growth since the very beginning. We look forward to sharing many more of the exciting awe-inspiring sport moments that Tiger is known to create in golf. At the same time, we will continue to utilize his insights to develop the most innovative products that support golfers reaching their full potential.
Woods doesn’t just have an endorsement with Nike however. He also has deals with Rolex, Fuse, EA Sports, NetJets and Kowa.