Woods’s victory means that he could now broker a better contract with Nike Tiger Woods’s Masters triumph came at the perfect time for him to renegotiate his multimillion-dollar endorsement deals, including with Nike, his main sponsor. Within minutes of his final putt in Augusta, Nike had tweeted a video of Woods with the title, “Never stop chasing your crazy dream”. The manufacturer stood by Woods after his infidelity scandal a decade ago and, in 2013, he signed a deal worth a reported $20 million (about £15.3 million) a year — half the size of his contract at the height of his career but still a show of faith. Sponsored The length of that deal is private but one source told The Times that it was for ten years from 2014, with an option to renegotiate in 2019, which means<doc-sep>There may be no more infamous endorsement in sports than the one between Nike and Tiger Woods. One of the most well-known golfers in history has been with the iconic brand since the start of his professional career and has remained with them ever since. There have been a few bumps in the road, but Woods and Nike are a powerful pairing. Since first signing with Nike in 1996 before his pro debut at the Greater Milwaukee Open, we’ve seen commercials with Woods, custom gear and much more. We’re going to take a deeper look into Tiger’s Nike contract and the history behind the brand and the golfer, starting with the various deals he’s signed. Tiger Has Reportedly Signed Four Nike Contracts While the first deal Woods signed with Nike came in 1996, he’s since re-upped that contract four different times, according to John Strege of Golf Digest. The first deal was a five-year agreement worth $40 million, which looks small compared to some of the others signed by the golfer. It was reported that Woods’ second contract came in 2001 when he signed a five-year extension that was worth roughly $100 million, according to Doug Ferguson of ABC News. The third deal was agreed to in 2006 for seven years and was followed by the most recent between Nike and Tiger which is double the size of his second. Tiger Woods’ Current Nike Contract Is Estimated at $200 Million The 2013 contract extension signed by Woods was agreed to during the final year of his previous deal. There was quite a bit of speculation over just how much money it was worth, and Business Insider is among many who have cited the $200 million total. After the deal was done, Woods’ agent Mark Steinberg said he was “confident” the golfer would be with Nike for the rest of his career and addressed the contract, per ESPN’s Bob Harig. “We’re comfortable with where we ended up and the career trajectory that Tiger will be on with Nike,” Steinberg told ESPN.com at Muirfield, where Woods will begin play in the Open Championship on Thursday afternoon. “I’m thrilled we were able to complete this deal.” Woods echoed a similar sentiment roughly a month prior, telling ESPN that “it was just a matter of time” before the contract would be signed. Woods’ Dad Called Nike’s First Contract With Tiger ‘Chump Change’ After Woods signed the $100 million deal over five years in 2001, it was apparent that Nike knew the price to keep him on board would be far bigger than his first contract. The jump in pay was $60 million more over the same amount of time, and Tiger’s father, Earl Woods, was brutally honest about how he knew the second negotiations would go, per ABC News. “The value Nike received on the first contract caused me to come to my conclusion that it would be chump change,” his father, Earl Woods, said of the five-year, $40 million deal that raised eyebrows in 1996. “And this contract will be chump change compared to the next one, because Tiger is only going to get bigger and better.” As we’ve seen since that point, Tiger’s father was spot on with his assessment that the contracts were only going to increase in size. Nike Backed Tiger Woods After Other Sponsors Dropped Him While Nike’s contracts with Woods have only increased in size over the years, they had a big decision to make in 2009. When the news of Woods’ extramarital affairs came to light, multiple sponsors such as Gatorade, AT&T, and General Motors, among others canceled their contracts, per CNBC’s Lucy Handley. But Nike chose to stay with Woods and keep their contract. They also did the same when he was charged with driving under the influence after being found asleep behind the wheel of his car in 2017. This decision was even made in the midst of Woods attempting to return after multiple back surgeries and just one top-10 finish from 2014-17. Woods began reverting back to form in 2018 by finishing No. 2 in the FedExCup Rankings and posting seven top-10 finishes that year. Nike Welcomed Tiger Back at 2018 Masters With Infamous Ad While Woods hadn’t competed in the Masters since 2015 due to injuries and the aforementioned back surgeries, he made his return to the infamous major during the 2018 season. And in doing so, Nike created a commercial titled “Welcome Back,” as Darren Rovell of The Action Network previously showed. FIRST LOOK: Nike's new Tiger spot called "Welcome Back." pic.twitter.com/fWrokiQJdC — Darren Rovell (@darrenrovell) April 5, 2018 The partnership between Woods and Nike remains strong as the years roll on, and it doesn’t appear to be slowing down anytime soon. It’s probably a safe bet that if/when his current deal expires, that Woods will remain with the company beyond that point. READ NEXT: Tony Finau’s Cousin, Jabari Parker, Watched Him Play Live at Major<doc-sep>If Tiger Woods weren't Tiger Woods, if his image hadn't been tarnished by a drunken-driving arrest and his back injured so badly that he could barely walk a few years ago, his victory in the 2019 Masters tournament wouldn't have been the same. Not as inspiring for fans, who were thrilled to see the 43-year-old walk away with his fifth green jacket after recovering from four surgeries on his knee and an equal number on his back. And not as lucrative for Nike, the sports-apparel giant that stuck with Woods through a decade of lows to reap millions in free advertising as TV reporters followed the champion's trek toward a comeback. "It's all about the camera shots," said Eric Smallwood, president of advertising consultant Apex Marketing, who estimated that visuals of Woods' Nike-branded hat, shirt, pants, and shoes were worth $22.5 million to the Beaverton, Ore.-based company. "They pretty much followed him around. Every time he swung a club, except four or five times, he was on camera." Monster Energy drinks, whose logo adorns Woods' golf bag, garnered about $958,333 worth of air time, according to Apex. Bridgestone, which makes his golf balls, netted about $134,167. "If anyone else had won, we wouldn't be hearing this story the way we're going to be hearing this story — for a very long time," Eric Yaverbaum, who runs New York-based Ericho Communications and has spent 35 years in marketing and public relations, told the Washington Examiner. "The thing about redemption arcs is people love them. They're dramatic, they're cinematic, they give us someone to root for." With long experience in employing headline-making athletes as representatives, Nike was ready to seize the moment. It posted an ad built around the victory the same day, urging viewers to chase "crazy dreams" and noting that Woods had moved another step closer to his lifetime goal of topping the 18 major wins picked up by Jack Nicklaus. "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," the company says in the spot, which includes black-and-white footage of Woods as a child jumping up and down after sinking a putt. [Related: Trump giving Tiger Woods the Presidential Medal of Freedom for comeback in sports and life] Nike, which signed an endorsement contract with Woods in 1996, has also generated controversy with such arrangement at times. A 2013 campaign with the golfer, who was then rebounding after a 2010 divorce from Swedish model Elina Nordegren and intense media coverage of extramarital affairs, used the slogan, "Winning takes care of everything." Last year, when the French Open banned catsuits like the Nike garment that tennis star Serena Williams wore in May, the company responded with a Twitter post. "You can take the superhero out of her costume, but you can never take away her superpowers," Nike said, a reference to Williams' statement that wearing the suit made her feel like a superhero. President Trump, who has condemned another of Nike's representatives, Colin Kaepernick, the former NFL quarterback who made headlines by kneeling during the national anthem to protest police brutality, had nothing but praise for Woods, promising to present him with the Presidential Medal of Freedom. Should Woods be a Masters contender again in 2020, his sponsors stand to reap an even bigger windfall, said Yaverbaum, who routinely advises clients to "show up where the story is already happening." Woods is "a legend," he said, and if his 2019 win represents a return to form, "you can expect that there will be an ongoing narrative." Spoke to @TigerWoods to congratulate him on the great victory he had in yesterday’s @TheMasters, & to inform him that because of his incredible Success & Comeback in Sports (Golf) and, more importantly, LIFE, I will be presenting him with the PRESIDENTIAL MEDAL OF FREEDOM! — Donald J. Trump (@realDonaldTrump) April 15, 2019 In the immediate aftermath of Woods' victory, the realization hadn't quite sunk in, the golfer told reporters during a news conference at the Augusta National, the Georgia course where the Masters is played. "I had serious doubts after what transpired a couple of years ago," he said. "I could barely walk. I couldn’t sit. Couldn’t lay down. Couldn't do much of anything. Luckily, I had the procedure on my back, which gave me a chance at having a normal life. Then, all of a sudden, I realized I could swing a golf club again."<doc-sep>Tiger Woods’s Masters triumph will be rewarded with a new Nike deal worth in excess of £150 million, according to leading brand experts who claim he could start closing the gap again on Michael Jordan as the wealthiest sportsman in history. The American’s remarkable comeback from sex scandals, a drug arrest and back injuries comes just months before his deal with the sports kit giant is up for renewal. Shortly after Woods’s triumph at Augusta, Nike shared a new advert, “Never stop chasing your crazy dream”, paying tribute to his feat, and marketing bosses claim the brand will be desperate to keep hold of the star. Following a costly divorce, Forbes estimated Woods’s net worth at $740 million (£580 million) in 2016. He has some way to go to catch up with Jordan, whose estimated fortune of $1.4 billion continues to swell thanks to his named branding deal with Nike. Russell Scibetti, of leading American sports sponsorship firm Kore, told The Daily Telegraph Woods could expect to secure a fresh deal worth in excess of $200 million over six years. Ronn Torossian, chief executive of New York public relations firm 5WPR, estimated Woods’s worth increasing by $20 million this year. In addition, Hollywood filmmakers are expected to come in with offers to chronicle Woods’s recovery from 1,199th in the world rankings, having been close to quitting as he was treated for sex addiction and arrested at the wheel of his car with a cocktail of drugs in his system.<doc-sep>
Tiger Woods celebrates after sinking his putt on the 18th green to win during the final round of the Masters at Augusta National Golf Club on April 14, 2019 in Augusta, Georgia. The value of Woods' Sunday victory for Nike is roughly $22,540,000, according to Apex Marketing. This number is equivalent to the brand value that the athletic apparel company received 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. Tiger Woods on Sunday achieved his 15th major win, and his fifth Masters, at the 2019 Masters, following a drought of championship victories that lasted more than a decade. By Sunday afternoon, some of the Tiger Woods-branded apparel and accessories for men on Nike's website were sold out. Meanwhile, shortly after Woods' victory was declared 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." tweet Nike's ties to Woods date back to the debut of the golfer's professional career in 1996 at the Greater Milwaukee Open. At the time, Nike had reportedly just signed a five-year deal with Woods for $40 million. And Woods has since re-signed his contract with the company numerous times. Nike famously stuck by Woods in 2009, when the golfer took an indefinite 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 stuck with Woods again in 2017 when the golfer was charged with driving under the influence, 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 also estimated that the Monster Energy brand made about $958,333 for being featured on Woods' golf bag, while Bridgestone made about $134,167 for being on Woods' golf ball, which was shown during close-up shots of various putts on Sunday. WATCH: Tiger's win cost sports books millions in payouts