JUST IN: TIGER WOODS I am calling of my retirement due to medical health

The 15-time major golf champion has used the brand’s products and equipment since he turned professional in 1996.

“The days since have been filled with so many amazing moments and memories, if I started naming them, I could go on forever,” Woods said on social media.

Nike said it was an honour to partner with “one of the greatest athletes the world has ever seen

Woods, 48, first signed a $40m (£31.5m) five-year contract with Nike upon turning professional as a 20-year-old in 1996.

The deal became one of the most lucrative partnerships in sports history as Woods dominated the world of golf for more than a decade to put him second on the list of men’s major champions, three behind leader Jack Nicklaus.

Becoming one of the world’s most famous sport stars, Woods signed multiple further deals with Nike over his career, including a 10-year contract in 2013 worth a reported $200m.

Tim Derdenger, an associate professor of marketing and strategy at Carnegie Mellon’s Tepper School of Business in Pittsburgh, Pennsylvania, told the BBC the long-term partnership between Woods and Nike was “a win-win for everybody”.

In 2013, the academic was part of a research team that looked at the impact of Woods on the sales of Nike golf balls, which he switched to using in 2000.

The research found that between 2000 and 2010 the company recovered 57% of its $181m investment in Woods (at the time) in sales of golf balls in the US alone.

Prof Derdenger said when Woods turned professional, Nike “didn’t have a strong prominent position in the golf industry” and so struck gold when it launched the its golf line with the upcoming star

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