Tiger Woods is arguably one of the most influential athletes of all time. His remarkable feet on the golf course have earned him fame, fortune, and a loyal fan base. But his career has also been marred by controversies and setbacks. One of the most recent ones is his fallout with Nike, his longtime sponsor.
Nike and Woods have had a mutually beneficial relationship since 1996 when the young prodigy signed a deal with the sportswear giant. Over the years, the partnership evolved and expanded. The 82-time PGA Tour winner became the face of Nike Golf and helped the brand grow its market share and revenue immensely. But now the question is: after the end of his nearly three-decade partnership, is Tiger Woods still a billionaire?
The impact on Tiger Woods’s billionaire status
On January 8, Tiger Woods took to his ‘X’ account to announce the split. But the end of the Nike deal might be a major blow for Woods, who had reportedly earned $500 million from the company. According to Forbes, Mr.T is worth $1.1 billion, thanks to his $1.8 billion in endorsements and tournament winnings.
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In 2022, Forbes announced him as a billionaire. The 15-time Major Champion is one of only three professional athletes who have reached billionaire status. Along with NBA legends Michael Jordan and LeBron James, who are also Nike endorsers.
But without Nike, Woods’ net worth, might take a hit, as he will lose a significant source of income and exposure that he netted from the said partnership. Even though the 5-time Masters’ winner still has deals with other brands, such as Bridgestone, Monster Energy, and Rolex, among others, none of them can match Nike’s lucrative deal. Not only Tiger Woods but also Nike benefited from this partnership.
It was a mutually beneficial partnership
Under Woods’s contract, the swoosh sign became synonymous with the legendary golfer, and Nike grew to be one of the largest companies in the world. As per the FactSet data, during the 27-year run, the company’s shares have posted a return of nearly 1,800%; they also saw double the return of the S&P 500.
Not only that, at the 2005 Masters, Nike made the equivalent of roughly $1 million through free publicity. The golf legend chipped in from the 16th green, and the ball rolled slowly toward the green and eventually hung on the edge for a second. The Nike logo was clearly captured on camera, and Nike made whopping bucks from this free publicity.
Also Read: Nike Responds to Tiger Woods Split With Emotional 7-Word Statement
However, now, his future as a billionaire is uncertain, as he might face the consequences of his Nike fallout. Notably, he hasn’t played the game a whole lot; last year, after his unfortunate exit from the 2023 Masters, the golfing maestro went on a 7-month-long hiatus, and upon his return, he was only seen at the PNC Championship and Hero World Challenge and didn’t win any. However, Phil Knight, the CEO of Nike, once said, “He’s not only basically the most talented player in the game, he’s also the hardest worker and he’s also the toughest mind.”
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