Nike did not make the same special offers to Tiger Woods as they did to LeBron James, despite Woods’ four contracts worth £500 million.
Woods was a Nike figurehead, but their relationship ended after their final contract expired – but it also highlighted that Woods was never handed lifelong contracts like LeBron James or Kevin Durant.
In 2015, LeBron signed a lifelong contract with Nike, ensuring that he will always be an athlete for them. Durant signed the same type of arrangement in April 2023, but Woods is now anticipated to form a new endorsement deal.
Despite Woods’ considerable contribution to the firm and four contracts worth more than £400 million, Nike never gave him the same agreement as James and Durant.
According to The Sun, Tiger is “disappointed” since his contract with Nike has expired, implying that the expectation was for a lifetime partnership.
Tiger got a five-year contract worth £30 million in 1996, when he was first building his name. It has been stated that Nike’s golf revenues increased by 900% in the two years following his signing. He signed new contracts worth £78 million and £250 million in 2001 and subsequently, at the peak of his career.
He then reached a formal agreement in 2013 for £150 million over ten years. However, it appears that Nike is closing up their golf programs and has ceased production of golf equipment since 2016. It may explain why Tiger was never offered a lifetime contract.
Nike will not allow James and Durant, two enormous basketball stars, to go since they are considered as essential to the brand’s future.
Woods isn’t the only big name to go. In 2018, tennis champion Roger Federer signed a £250 million contract with Uniqlo.
