There are only three known athlete billionaires in the world – and it is no surprise they have all endorsed Nike.
Tiger Woods, LeBron James and Michael Jordan have all reached ten figures in net worth, while Cristiano Ronaldo cannot be far behind.
However, only three of those four sportsmen have lifetime deals with Nike.
Basketball superstar James and football legend Ronaldo will eventually earn $1billion (£790million) from Nike over time, having committed their whole future to the footwear and clothing company.
NBA icon Jordan is presumed to have a similar agreement due to his mega-successful ‘Air Jordan’ line of basketball shoes, which is produced by Nike.
That just leaves Woods. And rather than a lifetime, his time with Nike is officially over.
His most recent contract, signed in 2013, ended on December 31 and Woods has now confirmed he is moving on to a new clothing sponsor.
It signals the end of a monumental era spanning nearly three decades.
It has been worth around $500m (£395m) to Woods and an incalculable amount to Nike.
In 2022, Forbes estimated that Woods has earned around $1.7bn (£1.34m) across the 27 years they have tracked him.
That would mean nearly 30 per cent of the American’s wealth has come from Nike: almost triple the 10 per cent made from actual golf winnings.
Woods has a number of sponsors and endorsements: collecting more than $100m (£79m) per year off the course at the peak of his powers, making him the most prolific athlete endorser in history.
But Nike has always been his biggest backer. In the 12 months between July 2021 and June 2022, the 47-year-old made $68m (£53.7m) despite hardly touching a golf club.
It is understood around $20m (£15.8m) of that came from his ten-year deal with Nike, signed in 2013.
The iconic partnership began in 1996 when Woods signed an unprecedented five-year deal worth $40m (£31.6m) upon turning pro.
Speaking at the time, Nike founder Phil Knight said: “The world has not seen anything like what he’s going to do for the sport. It’s almost art.
“I wasn’t alive to see Claude Monet paint, but I am alive to see Tiger play, and that’s pretty great.”
He was right. When the time for renewal came in 2001, Woods had already won the career grand slam by the age of 24.
The golfer’s second deal would be worth more than double the first.
Woods penned another five-year contract, this time to the tune of $100m (£79m).
Nike were onto Woods as soon as he turned pro and it paid offCredit: AFP
Nike turned Woods into a symbol, from his traditional red and black Sunday attire to a series of iconic adverts.
His never-seen-before greatness and dominance was a sponsor’s dream – and Nike got the ultimate pay-off at the 2005 Masters.
No golf fan will ever forget the Nike ‘swoosh’ hanging over the 16th hole at Augusta before, as is by magic, dropping in.
In 2006, with Woods still in the peak of his powers, the golfer signed a new seven-year deal with Nike.
At this point, the contracts became undisclosed, but this deal was estimated to be worth at least $140m (£110.7m) in multiple reports.
The iconic duo suffered their first test when Woods went from clean-cut role model to serial adulterer in one of sport’s biggest news scandals of all-time.
His five-year marriage with Elin Nordegren collapsed in dramatic fashion when a series of affairs emerged in 2009.
But Nike stuck by their athlete when multiple sponsors dropped him – and in 2013, as Woods returned to world No.1, they released their infamous ‘winning takes care of everything’ advert.
6Woods was part of many famous Nike advertsCredit: Nike
Nike’s unwavering support continued in 2013 as Woods agreed a ten-year deal thought to be worth around $200m (£158m).
In that time, Woods has suffered more difficulties in both his professional and private life, most notably a near-fatal car accident in 2021.
Nowadays, fans and sponsors root for the indestructible miracle-man that Woods has become, adding a whole new facet to his popularity – and he still moves the needle despite barely playing.
According to Apex Marketing, the value of Tiger Woods’ famous victory at the 2019 Masters for Nike was roughly estimated at $22.5m.
However, in recent years, the love affair appears to have dwindled.
Woods turned to TaylorMade for clubs and Bridgestone for balls when Nike stopped producing golf equipment in 2016.
Upon his return to the course in 2021, Woods has stopped wearing Nike shoes, opting instead for FootJoy to better manage his injuries.
And now, the previously-unthinkable has officially happened: Woods is no longer a Nike athlete.
So in the end, it will be James, Jordan, and Ronaldo – not Woods – who leave the biggest financial footprint with the commercial giant in the years to come.
