Tiger set to cash in with massive Nike deal

Tiger Woods’s Masters triumph will be rewarded with a new Nike deal worth in excess of £150m (R2.76bn), according to leading brand experts who claim he could start closing the gap again on Michael Jordan as the wealthiest sportsman in history.

The American’s comeback from sex scandals, a drug arrest and back injuries comes just months before his deal with the sports kit giant is up for renewal.

Shortly after Woods’s triumph at Augusta, Nike shared a new advert, “Never stop chasing your crazy dream”, paying tribute to his feat, and marketing bosses claim the brand will be desperate to keep hold of the star. Following a costly divorce, Forbes estimated Woods’s net worth at $740m (R10.4bn) in 2016.

He has some way to go to catch up with Jordan, whose estimated fortune of $1.4bn (R19.7bn) continues to swell thanks to his named branding deal with Nike.

Russell Scibetti, of leading American sports sponsorship firm Kore, said Woods could expect to secure a fresh deal worth in excess of $200m (R2.8bn) over six years.

Ronn Torossian, chief executive of New York public relations firm 5WPR, estimated Woods’s worth increasing by $20m (R281m) in 2019.

In addition, Hollywood filmmakers are expected to come in with offers to chronicle Woods’s recovery from 1,199th in the world rankings, having been close to quitting as he was treated for sex addiction and arrested at the wheel of his car with a cocktail of drugs in his system.

“The Masters was huge for Nike and huge for Tiger,” Scibetti said.

“It changes the narrative a bit for the casual fan as they’re now seeing him as a champion and a father . . . and for the avid golfer it creates a narrative where all of a sudden that chase to reach Jack Nicklaus and win 18 majors now feels realistic.”

Scibetti believes Nike would have offered Woods a reduced deal had he not won on Sunday.

His contract with the sports giants comes up for renegotiation every six years.

Meanwhile, Woods’s victory is expected to lift sales for sponsors, broadcasters and golf courses lucky enough to host a tournament with Woods playing.

“Tiger sells golf,” Apex Marketing Group president Eric Smallwood said.

Apex found that Nike earned $22.5m (R317m) worth of brand exposure just from Woods’ final round, with Nike’s “Swoosh” logo splashed on his hat, shirt, pants and shoes. –