Feb 12, 2024

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

Tiger Woods crouching to read a putt, with a separate closeup of his signature shoes.

Questions:

  1. Why do companies like Nike pay celebrities like Tiger Woods large sums of money for endorsements?
  2. What are the potential financial risks for athletes with high-income streams from endorsements?
  3. How can athletes use their platform and earnings for social good?

 

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

 

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 is the Partnerships and Adoption Manager for Next Gen Personal Finance’s midwest region. He brings his experience as a former teacher, curriculum designer, and sales and marketing professional to state organizations and school districts in supporting the implementation of their personal financial education efforts. He graduated from the University of Wisconsin-Green Bay and earned his teaching credential from Saint Mary’s University in Winona, Minnesota. He proudly taught at two rural high schools in Wisconsin before transitioning to curriculum design at NGPF, and is now excited to be on the front lines in delivering the best possible financial education in the midwest. He and his wife have three beautiful daughters, each of which inspire him to share the impact of being sound financial stewards both at home and as lifelong learners.

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