Woods looks set to re-sign with Nike Golf

There have been magnificent highs and a few significant lows as well.

Yet world No. 1 Tiger Woods is poised to re-sign with Nike in a long-term contract that is expected to see out the 14-time major winner’s career.

Tiger Woods Tiger Woods

Reports suggest Woods’ agreement with Nike has been worth as much as $20 million a year since he signed a five-year contract in 2001.

That replaced an original $40 million agreement with the world’s largest sporting goods company.

The agreement Woods signed in 2006 expires at the end of this year and, according to his long-serving agent Mark Steinberg, he will sign a new deal with Nike “soon”.

The 37-year-old Woods has endorsed Nike’s golf division since he turned pro in 1996 and re-signed with the Oregon-based company in 2001 and 2006.

While Steinberg hasn’t discussed specific contract terms, he said the new agreement would ensure Woods would more than likely be a Nike athlete for his whole career.

It was reported in one US golf magazine in March that Woods earned $77 million off the course in endorsements in 2012, while Sports Illustrated reported Woods’s 2012 earnings at closer to $40 million although these figures have been deemed inaccurate by Steinberg in the past.

And even when Woods lost endorsement deals with some of his other sponsors, including TAG Heuer, AT & T and Accenture following his 2009 marital scandal in 2009, Nike have stuck by him.

Now that agreement is set to continue.