It’s the end of an era for Tiger Woods, as the professional golfer announced that he would be ending his partnership with Nike after 27 years.
Woods took to Instagram to share the news, calling Nike one of “the most iconic brands in the world” while looking towards the future of his career.
“People will ask if there is another chapter,” he wrote, alluding to the potential for a new sponsorship. “Yes, there will certainly be another chapter.”
Nike also posted a photo of Woods in a red Nike golf polo on its official Instagram account to confirm the news.
“It was a hell of a round, Tiger,” the photo reads. “You challenged the entire institution of golf. You challenged us. And most of all, yourself. And for that challenge we’re grateful.”
Woods, who became a professional golfer in 1996, made a much-anticipated return to the Masters Tournament in April 2022 after sitting out years prior due to a slew of back-related injuries.
Nike’s endorsement of the athlete over the past nearly three decades has helped his net worth soar.
Per Forbes, Woods was the highest-paid athlete in the world for 10 years straight from 2002 through 2012.
Though unconfirmed, Woods’ original multi-year deal with Nike was reportedly worth $40 million, which was the most lucrative endorsement deal signed by any professional athlete at that time.
It’s estimated that over 90% of Woods’ earnings come from endorsement and sponsorship brands with a slew of companies, but his most profitable deals have been with Nike, Gatorade, and Gillette.
In June 2022, Woods officially reached billionaire status as his net worth shot up to an estimated $1.7 billion.
