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Tiger Woods signs a new Nike contract

July 17, 2013

(Getty Images photo)

The one constant throughout Tiger Woods' career has been his relationship with Nike, which will continue as a result of a contract extension he signed with the company that provides his equipment and apparel. Terms of the contract have not been disclosed.

It is the fourth contract Woods has signed with Nike, the first a $40 million, five-year deal he signed on the eve of his professional debut in the Greater Milwaukee Open in August of 1996. In 2001, he signed a five-year extension that was believed to have been worth $100 million. He last signed an extension in 2006 that was set to expire at the end of 2013.

"We're comfortable with where we ended up and the career trajectory that Tiger will be on with Nike," Woods' agent Mark Steinberg told at Muirfield Golf Club in Scotland, site of the British Open that begins on Thursday. "I'm thrilled we were able to complete this deal."

Steinberg has said in the past that he expects Woods to remain with Nike through the end of his career. Woods uses 14 Nike clubs and is expected to use a new Nike Covert driver in the British Open.

"We are thrilled to continue our partnership with Tiger," Cindy Davis, president of Nike Golf, said in a statement. "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 remains the highest earning player in golf, according to the Golf Digest 50. He earned in excess of $86 million in 2012, itsays, including $77 million in off-course earnings.