Pounds 60MILLION ON TICK; Biggest Ever Sports Sponsorship Deal Will Make Tiger a Billionaire by the Time He's 40

Article excerpt

OPEN Champion Tiger Woods has sealed an incredible pounds 60million contract with Nike - the largest deal ever in sport.

With just one signature the golf hero will land the huge pay packet - which will be paid over a five-year period.

It means 24-year-old Woods is well on his way to becoming sport's first ever billionaire.

Financial analysts believe, because he is so young, it is "virtually certain" he will make a billion by the time he is 40.

This summer Woods became the youngest player ever to complete the Grand Slam of the four golf Majors when he won The Open at St Andrews.

His agent, Mark Steinberg, refused to discuss the specific details of the contract but admitted it was "outstanding".

He said: "It compensates Tiger not just for what he's done with Nike, but what he has done for golf and sports.

"He's 24. That's the key to this.

"He's limitless. He's finally being recognised as the greatest athlete on the planet."

A Nike source described the deal as the "largest in sports marketing history".

Nike Golf president Bob Wood confirmed it was a five-year deal and that it was linked to sales of sports equipment.

Wood said: "We've worked on this for 18 months. It has a lot of aspects to it, but the effort was worth it. It's not often you get a chance to work with somebody who's the best in the world. …