Nike extends McIlroy deal for another 10 years
Northern Irish golf star Rory McIlroy has signed 10-year extension to his contract with Nike and its terms have led analysts to say that he should be able to earn an extra £80 million ($100 million).
With Nike having exited the golf equipment market the new deal leaves McIlroy endorsing its apparel, accessories and shoes and leaves him open to lucrative contracts with equipment makers.
There had been speculation that he would cut ties with Nike altogether as a result of it no longer making golf clubs. But of the new deal he said: “I’ve loved this company since I was a kid. I’m really happy to continue this journey with Nike.”
The company originally signed him to a five-year deal in 2013 with estimates that the contract was worth around $20 million a year. But that included all equipment and he wore/used the Nike brand head-to-toe.
Nike also had a similar deal with Tiger Woods but announced its exit from the equipment sector last year after failing to gain a large enough market share.
McIlroy is already the highest-earning golf star with estimates of his total annual income being around $32 million. If he wins the Masters this week he will be only the sixth player to complete the grand slam and it will boost his earnings potential even more.
He also has contracts with Bose, Omega and Upper Deck that make him the world’s 17th highest earning athlete.
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