Even though Tiger Woods is not winning any golf events, the golfer still makes the headlines. That’s right, Woods has not won an event since the 2019 Masters; however, he is still trending. A lot of things happened in the short period after he missed the cut at the 2024 US Open. Here’s a brief list to update you on what has been going on with the 15x major winner.
5. Nike lost $28 billion in market value
At the turn of the century, in 2000, Woods signed a five-year-long contract with Nike. The net value of the contract was $40 million back then. Their long-standing partnership went strong for 27 years straight. According to the BBC, “the research found that between 2000 and 2010, the company recovered 57% of its $181 million investment in Woods (at the time) in sales of golf balls in the US alone.”
However, earlier this year, Woods severed his ties with Nike. Although no relationship between Woods and their decline in market value has been made public, one might speculate on the possibilities. According to Sherwood, the brand had wiped out $28 billion in market capital at the beginning of this month. The brand has been predicting something like that and was already thinking of job cuts since February, a month after Woods left his partnership.
4. Charlie Woods’ stepping into the USGA
Woods’s son had quickly recovered from a bogey and a double bogey start at Eagle Trace Golf Club. He finished as a medalist in his qualifier after he scored 1-under-71. Along with three other qualified junior amateurs, the 15-year-old Woods earned a spot in the upcoming USGA event, the 2024 U.S. Junior Amateur Championship. The event will commence on July 24th–27th.
Understanding his own shortcomings at the qualifiers, Charlie Woods confessed, “I didn’t play great my first two holes, but I played really good for the last 16.” The young golfer further added, “I just told myself not to make any more bogeys or doubles, and I took advantage of some nice birdie looks when I had them.”
3. Tiger Woods and Justin Timberlake’s success at St. Andrews
Tiger Woods and Justin Timberlake have a thriving business together with their T-Squared Social Sports Bar in New York. But as the duo wished to expand the business and focused on St. Andrews, where Woods received two of his Open Championship titles, a problem arose. Many citizens and conscious student communities were against the renovation of their heritage, the New Picture House.
There was a petition signed by 10 thousand people voting against the new plan last year. However, this month, Woods got happy news to celebrate with Timberlake. According to the Scottish Sun, Fife revealed, “The proposal is considered acceptable in terms of design, detailing, and choice of materials; and it would protect and enhance the character and appearance of the conservation area.” Hence, with a green signal on their $2 million plan, Woods and Timberlake will soon change the scene at St. Andrews.
2. Tiger Woods’ PopStroke expansion
Woods’ Popstroke has already announced its plans for expansion to Cedar Park, Texas. However, in July 2024, Golfweek brought to light another addition. That’s right. Woods-backed Popstroke has signed a new lease. This new venue of choice is in northeast Austin.
This new addition to the Parmer Austin corporate campus will come with several of Woods’s mini-golf facilities, just like in other Popstrokes. They reported, “Along with mini golf, the venue will have other entertainment options and culinary amenities, including a made-from-scratch, quick-service dining experience on an outdoor patio, complete with a bar serving craft beers and signature cocktails.”
The construction for the same will commence by the end of this year, as the organization plans to open its business in 2025.
1. Woods and Rory Mcilroy backed TMRW Sports’s value was hiked
The upcoming technologically advanced sports venture, TMRW, connected ties with Dynasty Equity by the end of last month. What came out of this new investor joining the plan was a massive valuation worth $500 million! But that is not all.
The co-founder of Dynasty Equity, K. Don Cornwell, also talked about a possible push toward women’s involvement in their golf plans. He announced, “Our goal has always been to partner with world-class management teams in sports that have a big following.”
According to Bloomberg, Cornwell further said, “TMRW is taking intellectual property and applying it in such a way that’s going to not only get existing fans excited but bring new fans under the tent. And, since accessibility and bringing diversity into sport are among our priorities, it’s a great fit.” The addition of women’s golf will certainly bring about a renewed audience, as Cornwell likes to think.
