Bill Ackman and Tiger Woods have each had a business relationship with Nike, although in different roles. Woods spent more than 27 years representing the sportswear company as one of its most recognizable athletes. Ackman’s investment firm, Pershing Square, bought stakes in Nike, including a holding during Woods’ sponsorship and another position in 2024. Their connection runs through the company and the business of sport. Understanding it requires separating an athlete’s endorsement agreement from an investor’s ownership of shares, while following the dates that explain when their relationships with Nike overlapped.
The investor and the golfer
Bill Ackman founded Pershing Square Capital Management in 2004. His firm invests in businesses it considers undervalued and sometimes seeks changes in management, operations, or corporate governance. Its published strategy typically allocates most of its portfolio to eight to 12 core holdings.
Tiger Woods turned professional in 1996 and built a career that includes 15 major championships and 82 PGA Tour victories. His commercial activities developed alongside his tournament success, encompassing sponsorships, golf ventures, and apparel. Nike became a familiar part of that career through the clothing he wore and the advertising campaigns he appeared in.
How Nike connects Bill Ackman and Tiger Woods
Woods’ Nike relationship began in 1996. He represented the brand throughout the period that established him as a dominant golfer, with his final-round red shirts becoming a familiar sight in major championships. On January 8, 2024, he announced that the partnership had ended.
An endorsement agreement gives a company the opportunity to associate its products with an athlete’s performance and reputation. For Woods, Nike was a commercial partner whose clothing and branding accompanied his appearances in professional golf.
Pershing Square approached Nike as an investment. Buying its stock gave the firm’s funds an ownership interest in the sportswear business, with returns affected by the company’s prospects and the price paid for its shares. That investment covered Nike as a whole, extending well beyond golf and any single endorsement agreement.
Pershing Square’s two Nike investments
The earlier holding in 2017 and 2018
Pershing Square’s Nike history began before the 2024 purchase. Its 2017 annual report identified Nike as one of five new investments made that year. The investment discussion emphasized the company’s brand recognition, competitive position, and potential for earnings growth.
The same report explained that Nike’s share price had risen 34% during approximately four months of ownership. Pershing Square sold the position after deciding that other investments offered more attractive prospective returns. Its 2018 annual report also recorded the exit.
“It is rare that we are a short-term investor.” — Pershing Square’s 2017 annual report
That earlier holding is the period when Ackman’s investment activity and Woods’ Nike sponsorship overlapped. Woods was still representing the company while Pershing Square owned its shares.
The 2024 purchase and later exit
Pershing Square returned to Nike in 2024. A regulatory filing submitted on August 14 disclosed 3,040,132 Nike shares, valued at approximately $229.1 million, as of June 30, 2024.
Those dates serve different purposes. June 30 was the portfolio snapshot; August 14 was the disclosure date. The filing’s stated value reflected the holding at the end of the quarter, rather than necessarily the amount originally paid for it.
By then, Woods had already announced his departure from Nike. The 2024 investment therefore belonged to a later period in the company’s history. In November 2025, Pershing Square announced that it had exited Nike, a development recorded in its 2025 annual report.
Woods’ next apparel venture was Sun Day Red
On February 12, 2024, Woods and TaylorMade announced Sun Day Red, an apparel and footwear brand. Its first apparel collection launched on May 1. The name drew on Woods’ established habit of wearing red during final rounds.
The announcement described a standalone brand within TaylorMade, with its own team and headquarters. Woods’ involvement included specific preferences about how garments should fit and perform, including details intended to support freedom of movement during a golf swing.
“We will be anchored to putting the athlete first in the product decisions we make.” — Tiger Woods, Sun Day Red launch statement
Woods had already used TaylorMade clubs before Sun Day Red’s launch. The announcement brought his equipment and clothing relationships under the same corporate group, while establishing a separate identity for the apparel business.
A timeline of the Nike connection
| Date | Event |
| 1996 | Woods turns professional and begins his Nike relationship. |
| 2017 | Pershing Square adds Nike to its investments. |
| 2018 | Pershing Square exits its earlier Nike holding. |
| January 8, 2024 | Woods announces the end of his Nike partnership. |
| February 12, 2024 | Woods and TaylorMade announce Sun Day Red. |
| August 14, 2024 | Pershing Square discloses its June 30 Nike shareholding. |
| November 2025 | Pershing Square announces its exit from Nike. |
Woods’ golf ownership has its own partners
Woods has also taken an ownership role in team golf. In November 2023, an ownership group led by his TGR Ventures and investor David Blitzer announced Jupiter Links Golf Club. The team was formed for TGL, the technology-based golf league developed by Tiger Woods and Rory McIlroy’s TMRW Sports in partnership with the PGA Tour.
These deals give Woods a role in developing products and operating sports businesses alongside his competitive career. The Sun Day Red announcement described his contribution to garment design, while the Jupiter Links announcement identified him as both a player and an owner.
Frequently asked questions
Are Bill Ackman and Tiger Woods business partners?
Their shared Nike connection does not establish a direct partnership. The company announcements and investment disclosures discussed here do not identify a joint venture between them.
Did Ackman invest in Nike while Woods was still a Nike athlete?
Yes. Pershing Square’s earlier Nike holding began in 2017, during Woods’ sponsorship. The firm’s subsequent 2024 investment came after Woods announced that the sponsorship had ended.
How large was Pershing Square’s disclosed Nike stake in June 2024?
The filing listed 3,040,132 shares with a quarter-end value of approximately $229.1 million. That figure describes a particular reporting date, rather than a permanent holding.
Who partnered with Tiger Woods on Sun Day Red?
TaylorMade partnered with Woods to introduce the brand in February 2024. It extended their existing commercial relationship into apparel and footwear.
Who was named alongside Woods in Jupiter Links’ ownership group?
David Blitzer was named alongside Woods’ TGR Ventures when the team was announced in November 2023.
Conclusion
The connection between Bill Ackman and Tiger Woods centers on their separate roles at Nike. The earlier Pershing Square holding overlapped with Woods’ sponsorship; the 2024 purchase followed his departure. Those dates explain the relationship without turning a shared corporate connection into a personal business deal.
