Tiger Woods’ relationship with Nike has ended after 27 years, it was announced Monday.

Woods first signed with Nike in 1996, just after he joined the PGA Tour as a 20-year-old. It is estimated that the 15-time major champion has earned between $500 million and $700 million during the life of the equipment and apparel deal.

“Over 27 years ago, I was fortunate to start a partnership with one of the most iconic brands in the world,” Woods said in a statement released on social media. “The days since have been filled with so many amazing moments and memories, if I started naming them, I could go on forever. Phil Knight’s passion and vision brought this Nike and Nike Golf partnership together and I want to personally thank him, along with the Nike employees and incredible athletes I have had the pleasure of working with along the way.

“People will ask if there is another chapter. Yes, there will certainly be another chapter. See you in LA!”

Nike released its own statement on Instagram, with the headline “It was a hell of a round, Tiger.”

“Tiger, you challenged your competition, stereotypes, conventions, the old school way of thinking,” the statement read. “You challenged the entire institution of golf. You challenged us. And most of all, yourself. And for that challenge we’re grateful.”

The 48-year-old Woods has been slowed in recent years by injuries to his back and legs, the latter sustained in a serious car accident in early 2021. He played in just three PGA Tour events in 2023, withdrawing from the Masters during the third round due to foot pain and then missing the cut at the British Open, but returning to complete all four rounds of the Hero World Challenge in the Bahamas in early December.

Woods also played alongside 14-year-old son Charlie at the PNC Championship in Orlando on Dec. 19, finishing fifth in the family scramble. As he noted in his statement, he is expected to participate in the Genesis Invitational in Los Angeles in mid-February.