Tiger Woods' agent Mark Steinberg said that his client is close to signing a new deal with Nike, according to ESPN.
Woods signed his current deal, set to expire before the end of the year, in 2006. This new deal will "emphatically" keep Woods as one of the sporting world's top-paid endorser, according to Steinberg.
The 37-year-old Woods expects to sign a new deal as soon as the U.S. Open is complete on June 16.
Steinberg told ESPN.com "we're down to the very, very short strokes right now ... I would expect we would come out with some sort of joint announcement when we get the paperwork signed. I hope this is viewed as a pretty bold statement."
Woods considered becoming a free agent and signing on with another company, but Steinberg said that this was never a serious possibility. Woods also has endorsement deals with Rolex, Fuse, EA Sports, NetJets, and Kowa.
This announcement would be the latest good news in a positive stretch for Woods. Despite a poor performance at the Memorial, Woods has won seven times in the last 15 months after a winless drought of two years.
Last year during slump, Tiger wanted to renew at same $40 million annually. Nike offered high teens. Leverage considerably stronger now. — Steve Elling (@EllingYelling) June 3, 2013