Today was a huge day in golf, as multibillion dollar mogul Nike announced that they’re pulling out of the equipment industry, eliminating the production of clubs, balls and bags.
BREAKING: Nike announces it is ending its golf equipment business. No more clubs, balls or bags. Business just way to challenging.
— Darren Rovell (@darrenrovell) August 3, 2016
Here’s part of the official release from Nike, per CBS Sports:
Nike, Inc. announced today that it will accelerate innovation in its Golf footwear and apparel business and will partner with more of the world’s best golfers. With this new focus, Nike Golf will transition out of equipment — including clubs, balls and bags.
“We’re committed to being the undisputed leader in golf footwear and apparel,” says Trevor Edwards, President, Nike Brand. “We will achieve this by investing in performance innovation for athletes and delivering sustainable profitable growth for Nike Golf.”
While the news is shocking in and of itself, it’s going to be interesting to see what happens to stars like Tiger Woods and Rory McIlroy—with Rory inking a $250 million, 10-year deal just three years ago with the Swoosh.
Presumably, both, among other stars, will still rep Nike byway of footwear, shirts, hats, pants, etc., but this is MAJOR news in the golf world as one of the giants in the sport bows out of the equipment realm.
[H/T Twitter]