Nike has inked Tiger Woods to a new contract. Details as to how much dough Tiger got this time haven’t been released but the terms “substantially more than his last contract” have been spoken. Tiger’s last contract was for 5 years at $100 million. “Substantially more” than $100 million is really an insane number, whatever it is.
Astronomical money nuggets
Nike makes about $500 million a year on golf stuff, so the $20 million they were paying Tiger before was certainly a good investment. Interestingly, that $500 million is only 3 percent of Nike’s total revenue.
Tiger made $96.7 million last year, making him the top money making “athlete.”
Speculation on the amount this time? Let’s do some math:
Tiger’s first Nike deal was 5 years at $40 million, from 1996 to 2001. That’s $8 million per year. Then in 2001 Tiger signed for 5 years at $20 million per year. The increase from contract 1 to contract 2 was 150%. Does Tiger’s take increase another 150%? That would put him at $50 million per year. We’ll guess he signed for another 5 years so that’s $250 million? Does Tiger make almost a million bucks a week now on his Nike endorsement alone?
How much dough do you think Tiger signed for this time around?