From Fortune Magazine:

1. Tiger Woods’ longstanding partnership with Nike, which earned him $660 million, has ended. Woods signed multiple multi-million dollar contracts with Nike during his career and has recently indicated that there is another chapter in his career to come with the Genesis Invitational tournament starting soon near Los Angeles.

2. Tiger Woods’ recent split with Nike highlights the changing nature of brand deals, with celebrities now seeking equity stakes rather than traditional endorsement contracts. Woods’ next steps are unclear but the trend of turning to equity stakes and contractual negotiations is growing among younger athletes.

3. Some of the new generation of sports stars, including several NBA and NFL players, have chosen equity stakes over traditional endorsement deals. In the world of golf, equity stakes have also become a point of contention with the PGA Tour offering stakes to loyal golfers amid a proposed merger with LIV Golf.

4. Woods’ Nike split has sparked comparisons to other athletes with lifetime deals. However, the ubiquity of equity stakes over traditional endorsement deals is a recent phenomenon, with the focus increasingly shifting towards investments and the long-term value of partnerships rather than immediate fees.

5. Woods’ next move is the subject of much speculation, with rumors connecting him to various brands. Nike’s future in the sport of golf remains uncertain, and Woods’ son’s attire from a different brand has also sparked discussion. Despite his split from Nike, the stock has modestly risen in the wake of this announcement.



Read more: Tiger Woods, Nike split after 27 years, $660 million worth of contracts