With Tiger Woods back atop the golf world, the world No. 1 is close to signing an extension with equipment sponsor Nike Golf.
According to ESPN.com, Woods and Nike Golf are close to an extension to continue a deal dating back to Woods' first days as a professional in 1996. Woods' current deal, signed in 2006, will expire sometime before the end of 2013.
A deal could be finalized and announced as soon as the completion of the U.S. Open next week at Merion. Rumors have suggested Woods could earn $40 million per year on this new deal. Woods' first five-year deal with the Swoosh was thought to be worth that amount in total.
Rory McIlroy signed with Nike Golf earlier this year in a deal that was originally reported to be in the range of $250 million. That deal is now thought to be worth in the low nine figures.
Though Woods has been associated with Nike for 17 years, he did not begin using their equipment until he put a Nike ball in play in 2000. Over the course of the next decade, Woods eventually put Nike clubs in his entire bag.