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Nike signs on Tiger Woods in an endorsement deal

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MUMBAI: For Woods, his latest Nike deal, arguably, caps a complete rebound from his marital problems that became public in 2009 and derailed his marketability.

Since turning professional in 1996, Woods has been a Nike endorser, and his latest deal will keep him one for many more years. Tiger Woods has endorsed many brands in the past but Nike is something which has always stood by him. Reports ensure that there is a new endorsement deal between the two.

In a statement released Wednesday confirming the new contract, Nike Golf president Cindy Davis said: "We are thrilled to continue our partnership with Tiger. He is one of Nike‘s most iconic athletes and has played an integral part in Nike Golf‘s growth since the very beginning." Though terms of the contract were not disclosed, Woods‘ agent, Mark Steinberg, had made clear in recent weeks that negotiations were progressing to keep the world‘s No. 1 player "with Nike for the rest of his career." Woods‘ original five-year deal reportedly was worth $40 million. Numerous media outlets cited Woods earning $100 million annually from Nike beginning in 2001.

Over time, Woods has rebuilt his endorsement portfolio and with four victories already this season, he has fulfilled that requirement. Now, marketers such as Rolex, NetJets and EA Sports are heralding him again.

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