Tiger Woods and Nike terminate their $500 million partnership after 27 years.

Nike and Tiger Woods have ended one of the most famous commercial partnerships in sport after 27 years.

On Monday, Woods announced the news in a statement posted on social media.

“Over 27 years ago, I was fortunate enough to begin a partnership with one of the most iconic brands in the world,” the statement read. “Since then, I’ve experienced countless amazing moments and memories. I want to personally thank Phil Knight, the other Nike employees, and the incredible athletes I’ve had the privilege of working with along the way. People may wonder if there’s another chapter. Yes, there will definitely be another chapter.”

Nike confirmed the news on its own social media with the message: “It was a hell of a round, Tiger.”

Woods started his partnership with Nike when he was 20 years old. The relationship, valued at approximately $500 million over its lifespan, made Woods one of the most recognizable figures in the world as he won 15 major championships. The partnership became well-known for Woods wearing red shirts on the final day of majors, and he also appeared in several TV commercials for Nike that became famous on their own.

Nike’s decision comes as the company aims to reduce costs by $2 billion in the coming years, scaling down its investment in the sport. Nike stopped producing golf equipment in 2016, and Woods’s career is nearing its end. His last major victory was in 2019, but he has been hampered by injuries for years. His game has been further limited by a serious car crash in 2021. At the Masters the following year, Woods wore FootJoy shoes instead of his customary Nikes, citing health considerations.

“I have very limited mobility now,” he explained. “With the rods, plates, and screws in my leg after the 2021 car crash, I needed something different that would provide more stability. That’s why I made the switch.”

At the time, Nike issued a statement in support of Woods’s decision, stating that they would work with him to meet his new needs.

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