Tiger Woods has signed a new deal with longstanding equipment and apparel sponsor Nike.
The US sportswear giant’s existing seven-year contract with golf’s world number one was set to expire this year, but Woods’ agent, Mark Steinberg, said a new deal was signed about two weeks ago during a series of meetings in Florida.
Steinberg would not disclose financial terms or length of the contract. “We're comfortable with where we ended up and the career trajectory that Tiger will be on with Nike,” Steinberg told ESPN.
Woods’ current deal with Nike was signed in 2006. He has been with the company since turning professional in 1996. Steinberg said there would be no new requirements as part of the deal but added that Woods would continue to work closely with Nike to develop products.
“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,” Steinberg added. “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.”
Woods also has endorsement deals with EA Sports, Fuse Science, Kowa, NetJets, Rolex, TLC Laser Eye Centers and Upper Deck.