Tiger Woods has signed a new contract with Nike although the details of the contract are not being disclosed at this time.
Woods first signed with Nike when he turned pro back in 1996 for a 5-year contract that was worth a reported $40 million. In 2001, his five year contract was worth an estimated $100 million. His current contract was for seven years and was signed in 2006. Various sources estimate Woods’ compensation to be at $20 million annually.
In a statement released to ESPN.com, Cindy Davis, president of Nike Golf, said, “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.
“We look forward to sharing many more of the exciting awe-inspiring sport moments that Tiger is known to create in golf. At the same time, we will continue to utilize his insights to develop the most innovative products that support golfers reaching their full potential.”
Woods is ranked the No. 1 player in the Official World Golf Rankings. He has won four times on the PGA Tour this year, and he finished fourth at the Masters Tournament in April at Augusta, GA.