Tiger Woods, Nike Agree To New Endorsement Deal As British Open Kicks Off



Sign Up for Sports World News’ Newsletter and never miss out on our most popular stories.


Tiger Woods of U.S. lines up a putt on the 9th green during his World Golf Final Group 1 match against Charl Schwartzel of South Africa in Antalya, southern Turkey, October 9. (Photo : Reuters)

World top-ranked golfer Tiger Woods has agreed to a new endorsement deal with Nike, according to ESPN.

Mark Steinberg, Woods’ longtime agent, told ESPN the parties actually agreed on the new deal nearly two weeks ago during a series of meetings in Florida. No financial terms or length of contract were revealed.



Given Woods’ recent return to the top of the golf universe, Nike, the sports industry leading equipment and apparel maker, had been eager to re-up on a deal the two sides initially signed in 2006. Overall, Woods has been with the company since turning pro in 1996, when he signed a five-year deal for a reported $40 million.

According to ESPN, the current contract was for seven years and various industry reports have placed his Nike compensation over $100 million over five years starting in 2001.

“We’re comfortable with where we ended up and the career trajectory that Tiger will be on with Nike,” Steinberg told ESPN.com at Muirfield, where Woods will began play today in the Open Championship. “I’m thrilled we were able to complete this deal.”

Steinberg said last month, when he acknowledged a new deal was imminent, that he felt “confident Woods will be with Nike for the rest of his career.” He later added there would be no new requirements as part of the deal but that Woods would continue to work closely with Nike to develop products.

“It’s not just about having one of the greatest golfers of all time or one of the greatest athletes of all time on staff,” Steinberg said. “It’s about how insightful he is with the product — how he can help them with innovation. I think there will be a lot of that.

Golf Digest, as part of an annual report earlier this year on golfers’ income, put Woods’ earnings at $77 million off the course in 2012.

 

Like Us on Facebook

© 2016 Sportsworldnews.com All rights reserved. Do not reproduce without permission.

Share.

About Author

Turner South Syndicate  is proud to publish SportsBuzzSource.com and SportsBuzzBlogs.com. TSS is a group of common interest people coming together in the sports news world. Sports news has always been an evolving hobby of ours. We take pride in researching the latest breaking news and presenting stories to readers as a quick reference. Sources are from multiple outlets scoured by our highly enthused team of researchers. Presenting a navigational friendly website, we are dedicated to exhibit the latest stories in sports. Also, for mobile news check out our app, Sports Buzz Source, on Google Play Store. ​ Lastest app releases are Remind List+ and YoCelsi on iTunes. Remind List+ -- Record all your list in one place and get notifications on home screen. Check it out... ​ YoCelsi - Minimalist Weather and Local Sorm Conditions Social Browser - 3D iBrowser with integrated social media (Facebook, Twitter, Instagram, etc...)

Comments are closed.