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Nike Renegotiates Endorsement Deal with Tiger Woods.
Knight Ridder/Tribune Business News, August, 1999 by Manning, Jeff
Knight Ridder/Tribune Business News
Aug. 25 -- Golfing phenom Tiger Woods has emerged as the Most Valuable Endorser in Nike Inc.'s post-Jordan era.
Beaverton-based Nike acknowledged that it has begun talks with the Woods camp to renegotiate the contract of the newly crowned winner of the Professional Golfers' Association Championship, even though that contract doesn't expire for two years. But Nike Golf spokesman Mike Kelly denied published reports that the company has reached agreement with Woods to more than double his pay to as much as $90 million over five years.
Still, Kelly made it clear that Nike intends to keep Woods in the fold.
"We obviously want to continue our relationship with Tiger Woods for a long, long time," Kelly...
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