The aftermath of Tiger Woods leaving Nike is starting to come forward. The legendary golfer left the brand via a tweet on January 8. Since then, there have been speculations going on about which brand will ultimately land the 48-year-old. But in the meantime, his past sponsor has taken a financial hit.

Companies taking a financial hit due to their star celebrities leaving is not a new thing. However, the effect Woods has on golf cannot be ignored. Maybe this is the reason why Nike’s losses are crossing the billion-dollar mark!

Nike’s share price dropped massively

There have been rumors of the American golfer’s departure since December 21. Coincidentally, the share price of Nike also started to fall during this time. According to reports, the brand’s share price has fallen by approximately $20 per share. However, there may be another reason for the share price drop.

Since December 22, Nike has also been planning a $2 billion cost-cutting plan, including layoffs! This could be the primary reason for the brand’s share prices to hit rock bottom. However, when a company makes layoffs and cuts costs, its stock tends to rise as investors believe it will be more profitable.

So there is a high probability that the loss is due to the Tiger Woods effect. There is a high probability that the American golfer was the catalyst that started the fires, leading to a heavy loss following the revelation of the cost-cutting plan.

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While the 48-year-old may not want a further contract with Nike, he most definitely will be looking for a new sponsor. And a few top-tier golf brands are leading the race.

Which sponsors can the legendary golfer pick up next and help earn billions?

There are rumors that the 48-year-old will join the company his son prefers. Charlie Woods is allegedly signed with Greyson, leading many golf fans to speculate he will join it too. Matt Powell, one of the most sought-after industry experts in footwear, suggests there is a very strong possibility that Woods might move to Greyson Clothiers.

Another brand looking to sign Woods will be TaylorMade. The two of them have already partnered to create the acclaimed P-7TW irons. Furthermore, the 48-year-old himself is promoting himself using the equipment produced by the brand.

So there is a high chance Tiger Woods will join one of these two brands as his sponsor. Tiger Woods’s association with either Greyson or TaylorMade will help them earn a lot of money as during 27 years of partnership, Nike made billions, with the TW on their side. Who do you think will land the legendary golfer? Let us know in the comments section below.

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