Tiger Woods' Deal With Nike Golf extends Beyond 2011




Make sure to listen to my interview with Nike Golf Global Sports Marketing Director Kel Devlin from this past weekend if you missed it.

I was most interested to hear Devlin's answer to my question about the length of Tiger Woods' current deal with Nike Golf. If you recall, I broke the story late last year when Nike Golf extended their deal with Tiger.

Tiger's first two deals with Nike Golf (signed in 1996 and then again in 2001) were each 5-years in length. I asked Devlin this weekend if Tiger signed another 5-year deal or if the new deal that Tiger signed with Nike Golf late last year was for longer than 5 years. Devlin confirmed that the current deal with Tiger is for longer than 5 years. He wouldn't disclose terms of the deal, but I found it very interesting that Tiger and Nike Golf signed a longer deal this time around. I think its a solid strategy for both Nike Golf and for Tiger because let's face it, unless Tiger gets hurt, he's going to be playing competitive golf for at least the next 10 years as he guns for Jack Nicklaus' all-time record of 18 majors.

In 1996, when Tiger turned pro, he signed a 5-year, $40M deal with Nike Golf. In 2001, Tiger signed another 5-year deal with Nike Golf, but this time the value of the deal was $100M.

What's my guess for terms of Tiger's current deal with Nike Golf? If I were the person at Nike Golf responsible for making sure that Tiger will be in the fold for years to come, I would have offered him a 10-year, $200M....essentially doubling his most recent deal.

Tiger Woods won his 13th major today by winning the 89th PGA Championship. It was his second straight PGA Championship.

We'll all tell our grandkids one day about the span in history where we watched the greatest golfer to ever tee up a golf ball. Enjoy it and don't take it for granted even though Tiger makes it look so routine.

 

 

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