Saturday 20 April 2019

Bumper new Nike deal can make Tiger Woods richest athlete in history

 

Tiger Woods of the U.S. celebrates on the 18th hole after winning the 2019 Masters. REUTERS/Lucy Nicholson
Tiger Woods of the U.S. celebrates on the 18th hole after winning the 2019 Masters. REUTERS/Lucy Nicholson
Tiger Woods with the Masters Trophy during the Green Jacket Ceremony. Photo: Getty

Tom Morgan

Tiger Woods's Masters triumph will be rewarded with a new Nike deal worth in excess of €170 million, 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 $740 million (€670m) in 2016. He has some way to go to catch up with Jordan, whose estimated fortune of $1.4 billion (€1.2bn) 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 over six years. Ronn Torossian, chief executive of New York public relations firm 5WPR, estimated Woods's worth increasing by $20m this year.

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," said Scibetti.

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