Tiger Woods on Sunday accomplished his fifteenth significant success, and his fifth Masters, at the 2019 Masters, following a dry spell of championship victories that lasted more than a decade.
That additionally means Woods’ apparel and accessories outfitter on the green, Nike, wins big.
The value of Woods’ Sunday triumph for Nike is generally $22,540,000, according Apex Marketing. This number is identical to the brand esteem that the athletic apparel company got from Woods’ on-camera exposure during the Final Round of the Masters broadcast on CBS, the firm said. The iconic Nike swoosh was featured on Woods’ hat, shirt, pants and shoes.
By Sunday afternoon, a portion of the Tiger Woods-branded apparel and accessories for men on Nike’s website were sold out.
In the interim, not long after Woods’ triumph was pronounced on Sunday afternoon, Nike dropped a video on its social media channels starring the golfer. It said: “It’s crazy to think a 43-year-old who has experienced every high and every low and has just won his 15th major is chasing the same dream as a 3-year-old.”
Nike’s ties to Woods go back to the presentation of the golfer’s professional career in 1996 at the Greater Milwaukee Open. At the time, Nike had apparently quite recently signed a five-year deal with Woods for $40 million. And Woods has since re-signed his contract with the company numerous times.
Nike broadly stuck by Woods in 2009, when the golfer took an inconclusive leave from the sport amid personal issues that landed him on the cover of tabloid magazines calling attention to allegations of his marital infidelity. Sponsors from the likes of AT&T and Accenture dropped him. But, at that time, Nike’s brand president said of Woods: “He’s got issues he needs to deal with and he’s dealing with them. We are looking forward to him getting back on the golf course.”
Nike stayed with Woods again in 2017 when the golfer was accused of driving impaired, and found asleep behind the wheel of his car.
That bet on Woods is clearly paying off for Nike now.
“Nike has always been about iconic athletes,” Allen Adamson, brand expert and co-founder of marketing solutions business Metaforce, said. “Consumers want to know not only what you make but what you stand for. It’s not just talking about how fast you can make sneakers … The best brands need to think about the long term.”
Apex has additionally evaluated that the Monster Energy brand made about $958,333 for being included on Woods’ golf sack, while Bridgestone made about $134,167 for being on Woods’ golf ball, which was shown during close-up shots of various putts on Sunday.