Tiger Woods to Search for New Clubs as Nike Exits the Golf Equipment Business

On Wednesday afternoon, sportswear giants Nike announced it will no longer be producing golf performance gear such as clubs, golf bags and golf balls, instead the company will be focusing on golf shoes and clothing. Despite having a roster of golf legends such as Tiger Woods and Rory McIlroy, Nike’s golf appeal has slumped in recent years, especially among many millennials. Golf ranked as Nike’s smallest category last year, below action sport, women’s training and other segments. Earlier in May, Nike’s biggest rivals, adidas AG also announced it was seeking buyers for its ailing golf business so they too could focus on clothing. It still remains unclear how this decision will affect Tiger Woods and Rory McIlroy. Most likely, they will receive a pay-cut and be able to pursue new endorsement contracts with other brands.