Tiger Woods and Nike are nearing the completion of a new endorsement agreement that will "emphatically" keep Woods as the highest-paid endorser in golf, according to a report on ESPN.com.
"We're down to the very, very short strokes right now,'' Woods' agent Mark Steinberg told ESPN golf writer Bob Harig. ''I would expect we would come out with some sort of joint announcement when we get the paperwork signed. I hope this is viewed as a pretty bold statement."
Woods could sign the new deal as soon as the next couple of weeks, Harig wrote.
Woods signed with Nike for a reported five years and $40 million when he turned pro back in 1996, and Nike stuck with Woods during his personal troubles. His current equipment and apparel contract is said to be roughly $20 million per year.
Earlier this year, of course, Nike signed Rory McIlroy to a major deal worth a reported to be anywhere from $10 million to $20 million per year. Steinberg didn't give any indication of the figures involved in Woods' new agreement, except to say that it would ''emphatically'' keep Woods as the king of the golf endorsement mountain.
Steinbeg did indicate to Harig that the new deal would be for multiple years.
"Tiger started his professional career with Nike in 1996,'' Steinberg said. ''He has a long way to go in his career, but I feel with the type of deal we've constructed … I feel confident that he will be with Nike for his entire career."