Nike getting out of golf equipment business

Nike is getting out of the golf equipment business. An announcement posted today on the company’s website said Nike “will accelerate innovation” in its golf footwear and apparel business, while transitioning “out of equipment — including clubs, balls and bags.”

Quote :

“We’re committed to being the undisputed leader in golf footwear and apparel,” said Trevor Edwards, President, Nike Brand. “We will achieve this by investing in performance innovation for athletes and delivering sustainable profitable growth for Nike Golf.”

The release made no mention of what the company plans to do with its current tour staff, players paid to use Nike golf clubs and wear its footwear/apparel.
Nike’s current PGA Tour staff is headlined by Rory McIlroy (a four-time major champion, and the No. 4-ranked golfer in the world) as well as budding stars Brooks Koepka (No. 17 in the Official World Golf Rankings) and Tony Finau (No. 80 in the OWGR), who were both signed to endorsement deals this year. Tiger Woods, Michelle Wie, Jhonattan Vegas, Russell Henley, Paul Casey, Kevin Chappell, Seung Yul Noh and Patrick Rodgers are also current endorsers of the company.
Before the release, Nike made steep discounts to its line of Vapor Fly metal woods, which launched without fanfare in late 2015. The drivers, which were selling between $349.99 and $499.99, were reduced to $149.99 each. Fairway woods and hybrid prices were also slashed to $99.99 and $89.99, respectively.

Nike golf is a money losing business since its inception. Nike Golf becomes a heavy burden to other Nike departments - Shoes, sport wear, etc. Nike spent too much monies on endorsement (Tiger Woods, Michelle Wie, & Rory Mcilory). The returns is not viable & justifiable ... and hence, Nike Golf can't sustain anymore ... I believe Nike is better off sticking to sport wear like Adidas.