"Analysis of a celebrity endorsement"

Tiger Woods has endorsed Nike golf products since shortly after he turned professional in 1996. He endorses Nike clubs, apparel, balls, and shoes. Tiger Woods is the world's number one ranked golfer and for that he is payed top dollar by Nike. He initially signed a 40 million dollar deal with Nike, which was only the down payment he received. Nike has payed the professional golfer an additional 20 million dollars a year after that since he has been with them. Many people speculate is Tiger Woods worth 20 million dollars a year? The golf Sector of Nike is one of Nikes largest sectors. It is worth 650 million dollars even during the recession America has seen over the last few years. This is because of Tiger Woods. Nike golf would be nothing without Tiger. Other companies have been around much longer than Nike has and many of the world's best professional, college, and amatuer golfers had built trust in other companies before Nike had been introduced. The fact that the world's best golfer had enough trust in Nike golf equipment to play it in competition gave Nike golf a legitimate name. Without Tiger signing with Nike, Nike golf would not be where it is today. Tiger has made golf cool for young kids and when they see him playing with Nike clubs, those are the clubs that they want to play with. Tiger has done some very cool, eye catching commercials with Nike as well. Seeing Tiger in the commercial makes people viewing the commercial think that Nike golf is cool. The endorsement has been successful for both parties. Tiger gets paid a large amount of money and Nike gets the number one golfer to play their equipment. Tiger has just renewed his contract with Nike for 100 million dollars in exchange for five more years with the company. I don't see Nike dropping Tiger anytime soon