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July 17, 2013

Report: Tiger Woods inks new deal with Nike

Posted at 3:16 PM by Coleman McDowell | Categories: Nike, Tiger Woods

Tiger Woods has signed a new contract with Nike, according to ESPN.com.

Mark Steinberg, Tiger's agent, said in the report that he was "thrilled" to be able to complete this deal with Nike, which will replace the current contract that expires at the end of this year. Woods has been with Nike since he turned pro in 1996 and signed for $40 million over five years. This contract will be Woods' fourth with the company. Terms were not disclosed.

"It's not just about having one of the greatest golfers of all time or one of the greatest athletes of all time on staff. "It's about how insightful he is with the product -- how he can help them with innovation. I think there will be a lot of that."

"Look at his shoe -- that is something he created with Nike. That's a workout and a golf shoe in one. That's an example of them really working together. They've done that for 17 years. I think you're going to see more and more of that, and maybe a more pinpointed direct approach."

Cindy Davis, the president of Nike golf, expressed her excitement on retaining the face of Nike Golf.

"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."

Steinberg said he was confident Tiger "will be with Nike for the rest of his career."

(Photos: Simon Bruty/Sports Illustrated)

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