Nike and Tiger Woods terminate 27-year-long collaboration.
Tiger Woods and the iconic brand Nike bid each other farewell
In a surprising turn of events, Tiger Woods, one of the world's greatest athletes, and Nike, one of the most recognized firms globally, have brought their 27-year partnership to an end. The announcement was made on Monday, and Woods shared his heartfelt reflections on the partnership via his platform.
"Two and a half decades ago, I was blessed to join forces with a brand that shook the world," Woods exclaims. "There have been way too many remarkable moments and memories to list. Phil Knight, with his boundless passion and vision, was the mastermind behind our partnership, and I extend my deepest gratitude to him, all the brilliant individuals at Nike, and the phenomenal athletes I've had the privilege of collaborating with."
For over 5 decades, Phil Knight, one of Nike's co-founders, led the company and stepped down in 2016. Woods is estimated to have earned around $500 million through the Nike collaboration, according to reports from The Guardian.
When inquired about the split's origins by Retail Dive, Nike remained silent on whether the decision stemmed from them, Woods, or if it was a mutual agreement. However, as of Monday afternoon, Nike continued to sell a variety of Woods-branded merchandise on their website, such as $32 hats bearing his initials, a $130 short-sleeve polo, and $160 golf shoes.
The PGATour.com highlighted that for nearly three decades, Woods was decked out in Nike gear for every major milestone of his professional sports journey. Woods did not reveal his future brand partners on the platform, but rather took the opportunity to promote the upcoming Genesis Invitational golf tournament in February in Los Angeles, which he will be hosting.
While some may see the split as a sign of broken relations, it can be attributed to Nike's dwindling focus on golf and Woods' need for clothing designed for his post-injury requirements. Woods recently marked a new chapter in his career by launching Sun Day Red alongside TaylorMade.
One of the key reasons for the split appears to be Nike leaving the golf equipment production years before the dissolution. This shift reduced the synergy between Woods and Nike's golf vertical, consequently restricting mutual benefits. Additionally, Woods' reduced tournament participation due to his severe 2021 car crash and subsequent injuries, along with the natural expiration of the partnership, also played a significant role in the separation.
- The partnership between Tiger Woods and Nike, which nearly redefined sports apparel for three decades, has ended after 27 years.
- Tiger Woods expressed gratitude to Phil Knight, Nike's co-founder, for their long-standing partnership that almost revolutionized the sports industry.
- Despite parting ways, Nike continues to sell Woods-branded merchandise, including hats, polos, and golf shoes, on their website.
- With Nike withdrawing from golf equipment production some years prior, and Woods' recent injuries and reduced tournament participation, the synergy between Woods and Nike's golf vertical diminished, leading to the dissolution of their partnership.
