Woods and Nike Close to New Deal
Tiger Woods, the number 1 golfer in the world, will soon ink a new endorsement deal with Nike, a leading equipment company. After endorsing the Swoosh and Frees for seventeen years, the golfer will continue the relationship with Nike through a new endorsement deal. The information is given by Tiger Woods’ agent, Mark Steinberg when he was being interviewed by ESPN.com. The new deal will simply confirm that Nike has two top golfers to endorse their products because earlier this year, Nike has signed the number two golfer in the world to a multiyear deal.
The relationship between Tiger Woods and Nike started in 1996. It was reported that Tiger Woods signed his first deal with Nike in 1996 in which the deal was worth more than $100 million. Through time, Nike has become a loyal supporter of Tiger Woods. When other supporters dropped Tiger Woods from their products due to his scandal, Nike still continues the relationship until today. This fact becomes a proof that the relationship between the golfer and the equipment company seemingly will be renewed through a new multiyear deal. Since his current deal will end sometimes before the end of this year, the new deal seemingly will be signed soon after the US Open that takes place from June 13 up to June 16 is complete.
Tiger Woods has also confirmed that the new endorsement deal is almost done. ESPN.com report tells that after he finished his round at the Memorial Tournament, Tiger Woods said that he would be inking the deal very soon as he has received the copy of the document. Even though there is not any information about the length and the amount of the deal, Mark Steinberg says that the relationship between Tiger Woods and Nike seemingly will continue for a long time. So, since each party has the biggest name in their field, the relationship between Tiger Woods and Nike will bring great benefits to both parties.