Tiger Woods first signed with Nike (NKE) in 1996, and extended that contract in 2000 for five years and $105 million. Today, Woods has a building named for him on the Nike campus, and reportedly receives a slice from the sale of Nike Golf apparel, footwear, golf equipment and balls. "Nike supports Tiger and his family," the company said in a statement. "Our relationship remains unchanged."
Nike was facing the challenge of promoting its new golf clubs -- the Victory Red STR8-FIT Tour fairway woods -- without the help of Woods' marketing muscle, as Tiger took a hiatus from professional golf to deal with his personal issues, reported the Wall Street Journal.
But all in all, Tiger's hiatus from professional golf did little to dent Nike's golf product sales, according to SportsScanInfo (a unit of SportsOneSource) data cited by Bloomberg.The data shows that sales of Nike golf products were little changed in the 13 weeks before Tiger's car accident outside his home and the 13 weeks thereafter.
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