Big news that I just confirmed with Nike Golf PR Director Beth Gast. Tiger Woods has signed a "multi-year" extension with Nike Golf. Its a no-brainer that the world's greatest athlete would continue his most successful marketing relationship. Tiger and Nike Golf are synonymous.

A little bit of history on Tiger and Nike Golf. Back in 1996 at the Greater Milwaukee Open, Tiger and Nike announced a partnership. Woods signed a reported 5-year, $40M deal, which many people scoffed at due to the fact that Tiger was just turning professional. Skeptics wondered if a.) He would dominate on the PGA tour as he did on the amateur level b.) If Tiger had the personality and charisma to move product.

Well, both questions have been answered 10 years later with a resounding YES. In 2001, Woods signed another 5-year deal with Nike Golf worth a reported $100M. Again, critics thought Nike founder Phil Knight had lost his marbles. Again, Knight and Nike have had the last laugh.

Earlier this year, I wondered aloud on our show if Nike Golf would be extending its relationship with the world's most marketable athlete. I've learned from Nike Golf over the weekend that they have in fact re-signed Tiger for "multiple years".

Nike Golf does not disclose terms of their athlete deals, but I'm guessing that the company signed Tiger for AT LEAST another 5 years at $100M ($20M per year). If they really wanted to lock him up for the long term, maybe they signed him to a 10-year, $200M deal. That would definitely make sense as Tiger, if healthy, will be playing golf for at least 10 more years. If you look at Jack Nicklaus and Arnold Palmer, both have remained marketable and you would think the same will be true of Tiger.

Understand though, that this is not your typical athlete-corporation relationship. Tiger Woods, like Michael Jordan, is a partner with Nike his agent Mark Steinberg confirmed with me earlier this year when I had him on SBR. He receives a cut from the sales of Nike Golf apparel, footwear, golf equipment and golf balls. This is likely very lucrative for Tiger as he has helped take Nike Golf from a "start-up" golf company earlier this decade to the leading golf apparel company in the world and one of the major players in the equipment and golf ball world.

As for Tiger, there isn't a better investment on the athlete endorser market today. Nobody makes more money in endorsement deals in all of sports than Tiger Woods. In addition to Tiger's deal with Nike Golf, he also has deals with Buick, American Express and Tag Hauer just to name a few. Could he become the world's first athlete to earn $1 billion dollars? Since he turned pro in 1996, Woods has earned roughly $67 million in prize money worldwide. Over that same period Woods has earned another $481.8 million in endorsements and appearance fees.

According to Golf Digest magazine, if Tiger continues to win tournaments and sign endorsement deals at his current pace, he'll reach the $1 Billion plateau in career earnings in the year 2010.

Tiger has won 12 majors in his career and is now only 6 major titles behind Jack Nicklaus.

The sky continues to be the limit for Tiger Woods and Nike Golf should be commended for identifying Tiger's historic talent and marketing capabilities 10 years ago and continuing that partnership with a new deal that will extend in to the future.