Question of the Day [Black History Month]: How much did Tiger Woods earn over his 27 years of contracts with Nike?
What do you get when you pair one of the world's most famous brands with one of the world's most famous athletes? A lot of money changing hands.
Answer: About $660 million
Questions:
- Why do companies like Nike pay celebrities like Tiger Woods large sums of money for endorsements?
- What are the potential financial risks for athletes with high-income streams from endorsements?
- How can athletes use their platform and earnings for social good?
Behind the Numbers (Fortune):
"Woods, now 48, signed a five-year, $40 million deal with Nike as a young phenom in 1996. A five-year, $100 million contract followed in 2001, and his next pact with the athletic-goods giant was worth $320 million over eight years. He signed his most recent deal with Nike, worth $200 million over 10 years, in 2013."
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NGPF's Entrepreneurship mini-unit will give you lots of tools to get your students thinking like innovators and problem solvers!
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About the Author
Ryan Wood
Ryan grew up with and maintains a love for learning. He graduated from the University of Wisconsin-Green Bay with a degree in Business Administration and worked in sports marketing for a number of years. After living in Texas, Colorado, Tennessee, and Minnesota, the call of education eventually brought Ryan back to his home state of Wisconsin where he was a Business and Marketing teacher for three years. In his free time he likes to spend time with his wife and daughter, play basketball, read, and go fishing. Now with NGPF, Ryan is excited to help teachers lead the most important course their students will ever take.
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