By CCN: Tiger Woods is officially back! Aside from the good news for the emabattled superstar himself, Tiger’s fifth triumph at the Masters represents a huge corporate success story for the sponsors who have stood by him, particularly Nike.
According to research from analytics firm Apex Marketing Group, the sports gear and apparel maker stands to reap a $22 million windfall off the back of yesterday’s result, following 10 of the most tumultuous years in the golfer’s career. What is more, that is just part of the economic impact of Tiger’s first major win since 2009.
Tiger Woods: Masters Victory Scores Nike a $22 Million Payday
Since his messy infidelity scandal broke in 2009, sullying his carefully cultivated good-boy image, Tiger Woods’ sponsors have had a mixed bag of results. Despite regaining his global No. 1 ranking in 2013 and winning a few PGA tour events, injuries and inconsistent form stopped him from winning a major tournament for 10 years. During this time, sponsors like AT&T, Gillette, Tag Heuer, Buick, and Accenture pulled out. Nike, meanwhile, continued to sponsor his clothing but exited the golf gear business altogether.
Following yesterday’s win, the equation may have changed significantly, owing to the sheer weight of numbers. For example, Japanese sponsor Kowa Co., which makes pain relievers, saw its stock jump more than 23% on Monday morning, making this its largest intraday gain in more than two months.
Nike shares jumped 0.6%, even as the wider stock market fell into decline.
And for good reason.
During the final round telecast of the event alone, Tiger Woods generated more than $23.6 million worth of brand exposure for his sponsors and corporate partners, according to data from Apex Marketing. Nike, in particular, is licking its lips at the marketing potential of collaborating with the world’s greatest golfer in a heartwarming comeback story. Nike reaped $22.5 million worth of exposure from Woods’ Masters win, which it was only too happy to play into.
More significantly for Nike, the return of the world’s greatest contemporary golfer to his imperious, world-beating form can be the spark that will return lost interest to the sport and make its golf equipment manufacturing business viable again. Consider that at the height of Tiger’s career, he made more than $30 million a year from his Nike partnership; the company earned hundreds of millions of dollars in sales using his unrivaled status as the most marketable sportsperson in the world.
Other sponsors like Monster and Bridgestone received publicity worth $960,000 and $134,000, respectively. Both companies will also be excited at the prospect of working with Tiger though a newly rejuvenated PGA tour calendar considering the renewed public interest and global media coverage.
Obama and Trump Agree: Tiger Woods is Back!
Following yesterday’s victory at Augusta National Golf Club, a deluge of congratulatory messages for Tiger Woods emerged as the world enjoyed the feel-good story of a write-off earning his redemption. Senders included everyone from former U.S. presidents to fellow sporting legends to blowhard television hosts trying to make themselves the story as usual.
Congratulations, Tiger! To come back and win the Masters after all the highs and lows is a testament to excellence, grit, and determination.
— Barack Obama (@BarackObama) April 14, 2019
Tiger also got a message from a fellow well-known love rat:
Love people who are great under pressure. What a fantastic life comeback for a really great guy! https://t.co/41MtJtYEjq
— Donald J. Trump (@realDonaldTrump) April 14, 2019
There was also one from a fellow sportsman who knows a thing or two about comebacks from devastating lows:
A big BIG congratulations to @TigerWoods for winning the Masters!! The roar of the Tiger is back!
— Earvin Magic Johnson (@MagicJohnson) April 14, 2019
And the obligatory backhanded post from a TV blowhard:
To all whiny snowflakes out there who keel over at the first sign of any problem.. look at Tiger Woods & learn from him. Life’s tough, so deal with it.
That takes mental strength, resilience, determination, a will to win & a refusal to give up. Bravo Champ @TigerWoods! pic.twitter.com/IYNYUbpqp3
— Piers Morgan (@piersmorgan) April 14, 2019