Tiger Woods secured a groundbreaking sponsorship deal with Nike worth $500 million over 27 years marking one of the most unique partnerships in sports history. Negotiated by his former agent Hughes Norton, the deal ensured Woods a substantial income even before he turned professional at 20. Despite initial skepticism from Nike’s sports marketing director, the compromise reached provided Woods with financial security regardless of his performance on the golf course.
This deal not only revolutionized Woods career but also set a new standard for endorsement deals in golf, influencing the earning potential of players across the sport. Norton efforts were instrumental in securing the deal, despite challenges from Nike’s former CEO, Phil Knight who attempted to bypass Norton and negotiate directly with Woods’s father, Earl. Despite being fired by Woods two years into the contracts, Norton pioneering dealmaking significantly impacted the landscape of golf endorsements.
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