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Tiger is the man!
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August 27, 1996: 9:06 p.m. ET
Golf's hottest amateur turns pro
From Correspondent Sean Callebs
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NEW YORK (CNNfn) - The marketing world is buzzing about a lanky 20-year-old kid from California who has incredible skill when it comes to hitting a golf ball.
After winning the United States Amateur title for a record third consecutive time over the weekend, Eldrich "Tiger" Woods declared himself a professional Tuesday. And there is no shortage of companies eager to shell out big bucks to attach their name to his aura.
The marketing tie-ins are endless. Play Tiger's woods. Hit his Titleist golf balls. Wear his Nike shoes, shirts, and slacks.
After rewriting the amateur golf record books, the Stanford University student is ready to sign with IMG, a sports management group, and start filling the ledger of his bank book.
Some say the long-hitting Woods (276K QuickTime movie) could be the most marketable golfer ever.
Without ever winning a dollar in a pro tournament, Woods has been elevated to the marketing status on par with Nicklaus, Palmer, and Norman.
The New York Times reported Tuesday that Nike will pay Woods $40 million over five years, and that Titleist had signed him to a three-year, $3 million contract. Neither company would comment on the report, but an official announcement is expected Wednesday afternoon.
Woods' youth (he began golfing as a toddler) and ethnic background are a big draw for marketers. His father is African-American and his mother is Asian. Advertisers believe that he will appeal to people who normally don't pay much attention to golf.
Aside from endorsement for clubs and golf balls, Woods could make a fortune from playing in corporate golf outings, perhaps as much as $65,000 a round.
With millions of dollars in endorsement deals lined up, all Woods has to do now is take his fluid swing and bulging bank account to the pro tour where the world's best golfers are eagerly awaiting their shot at the phenomenon Madison Avenue has already labeled a can't miss success.
In order to qualify for the PGA tour, Woods would have to earn $150,000 in its tournaments. If he fails to reach that figure, he would be forced to survive the grueling PGA Tour Qualifying tournament in December to remain on tour. He will begin this task by playing in the Greater Milwaukee Open this week. 
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