Apr 16, 2019
Tiger's Masters win could be a boon for the golf business
Tiger Woods' win at the Masters could revitalize the golf industry, which has struggled in the past decade, AP reports.
The backdrop: Enthusiasm for golf waned during Tiger's 11-year drought between major wins. Nike stopped selling golf equipment in 2016 to focus on apparel. About a year later, rival Adidas sold off its golf business.
During the tournament, Woods wore head-to-toe Nike, with the swoosh on his hat, shirt, pants and shoes.
- Shares rose for Nike, the sponsor that stood by Woods after his 2009 car crash and reports of extramarital affairs.
- Shares of energy drink maker Monster Beverage Corp., a sponsor whose green logo appears on Woods' golf bag, gained about 2%.
- TV ratings of golf tournaments and sales of golf equipment are likely to rise, at least in the short run.
Go deeper: Axios' Deep Dive on business of sports