Tiger Woods Signs Another Long-Term Deal With Stay With Nike For Clubs, Apparel
Tiger Woods has "signed a new endorsement deal with Nike that will take the place of a contract set to expire this year," according to Bob Harig of ESPN.com. Mark Steinberg, Woods' agent, yesterday said that the contract was "signed about two weeks ago during a series of meetings in Florida." Steinberg did not disclose financial terms or the length of the deal. Steinberg said that there "would be no new requirements as part of the deal but that Woods would continue to work closely with Nike to develop products." Woods' current deal with Nike "was signed in 2006," and he has been with the company since turning pro in '96. He also has endorsement deals with Rolex, Fuse, NetJets, EA Sports and Japanese pain relief brand Vantelin Kowa (ESPN.com, 7/17). GOLF WEEK's Gene Yasuda wrote picturing Woods "adorned with anything but Nike swooshes is difficult to do." His "value to Nike Golf is difficult to quantify, with typical metrics such as advertising exposure and product sales falling well short of capturing his full impact." Woods "virtually single-handedly ... legitimized Nike, known foremost as an athletic shoe and apparel company, as a golf brand." His latest deal with Nike "arguably, caps a complete rebound from his marital problems that became publicly known in 2009 and derailed his marketability" (GOLFWEEK.com, 7/17).