BEAVERTON, Ore. — After 27 years, Nike and Tiger Woods have ended their endorsement deal. At the time the $40 million dollar agreement was signed, it was the highest-priced endorsement deal for an athlete.
“It was a perfect marriage for the two of them,” said Chris Myrvold, a club golf professional at the Tualatin Country Club.
For years, Myrvold said Tiger Woods' Nike apparel flew off the shelves.
“His apparel kind of took off there right when his career started,” Myrvold said.
And for years, it was difficult to keep Woods’ apparel in stock, Myrvold said. It also led to a bump in people playing golf and shopping at club shops.
“When Tiger came into the fold he was extremely exciting to watch,” Myrvold said. “And it really changed the dynamic of golf apparel for sure.”
Retired advertising executives said the deal was one of the most profitable in sports.
“By making Tiger Woods the figure of Nike Golf, it presented a young, hopeful, exciting vision of golf that otherwise didn’t exist in the world, really,” said Doug Lowell, a retired advertising executive.
“They’d been synonymous with each other for so long,” added Travis Schoen, president of Shop Golf Guys in Portland.
Still, after scandals and injuries in recent years, golf shop workers said demand for Woods’ apparel has gone down.
"It was probably a good opportunity for both to explore other options,” Myrvold said.
In a statement, Nike said in part:
“For over 27 years, we have had the honor to partner with Tiger Woods, one of the greatest athletes the world has ever seen … we have witnessed … how Tiger not only redefined the sport of golf, but broke barriers for all of sport.”
On social media, Tiger Woods said he was fortunate to partner with such an iconic brand. He said his time with Nike was filled with amazing moments and memories.
Now, with the partnership at an end, golf stores are unsure what the impact will be on their businesses.
“I don’t know,” Travis Schoen said.