Tigеr Woods is one of thе most iconic athlеtеs of all time, and his partnеrship with Nikе is еqually lеgеndary. The golf superstar has been wearing the Swoosh since he turned pro in 1996 and has helped Nikе become a dominant force in the golf industry. But there was a time when Woods almost left Nike for a lower offer and ended up getting a much bigger deal than he expected.

It was 2012, and the 48-year-old was in a slump. He had not won a major tournament since 2008, and his personal life was also marred by publicized scandals. His contract with Nike was expiring, and he wanted to renew it at the same rate of $40 million per year, which he had been receiving since 2006. But Nike had other plans!

Nike could not afford to lose their biggest star and asset in the golf market. The brand offered the 15x major champion a deal in the “high teens” (probably $18–$19 million per year), which was still a generous amount. However, the golfer was not happy with the offer and reportedly wanted $40 million annually.

Last year during slump, Tiger wanted to renew at same $40 million annually. Nike offered high teens. Leverage considerably stronger now.

— Steve Elling (@EllingYelling) June 3, 2013

At that time, no other brand could match Nike’s offer, let alone surpass it. The 5x Masters winner was also loyal to Nikе, as the brand had stood by him through his troubles, unlike some of his other sponsors. In 2013, Mr.T accepted the deal, but the terms of the deal were not disclosed. It was reported to be worth around $200 million.

After signing the deal, Nike Golf President Cindy Davis released a statement and expressed her joy, saying, “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.” The brand’s president further said, “We look forward to sharing many more of the exciting, awe-inspiring sports moments that Tiger is known to create in golf.”

Nike lost its leverage over Tiger Woods

Before Tiger Woods’s probable deal worth $200 million was signed, Rory McIlroy became the highest-paid ambassador of Nike Golf with a sum of $20 million on an annual basis. Talking about Woods’s deal renewal, his agent in 2013 said that the newly signed contract would “emphatically” make Woods the highest-paid golf athlete.

Back in 2012, during the slump, the brand waited to sign the golfer. Nike had leverage over him since he was struggling professionally. But in 2013, that was not the case since the golfer found his rhythm back and had won five times on the tour. By waiting, the brand probably cost itself a lot of money, as it had lost its leverage over him!

The negotiation between the two turned out in favor of the golfer, and his clever move sure helped him secure a heftier sum from the brand. As per the speculations, the parties have now parted ways after almost three decades. Stay tuned for the latest update in the Nike-Tiger Woods saga!

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