Mr Mark Steinberg, his agent at IMG, declined to discuss specifics of the deal on Thursday, only to say it was an "outstanding contract." "We are within days of a signature," he said.

"It compensates Mr Woods not just for what he's done with Nike, but what he has done for golf and sports." Mr Woods' previous contract with Nike was said to be $40 million over five years. He was used heavily in their advertisements and established his own line of clothing and shoes.

A source close to the negotiations, speaking on condition of anonymity, described it as the "largest contract in sports marketing history," worth about $100 million over five years.

"There are so many different revenue streams," the source said. "It's impossible to calculate what the end result will be."

Nike Golf president Mr Bob Wood described the contract as "pretty creative.""It's not often you get a chance to work with somebody who's the best in the world at what they do," he said. "Working with and being associated with Mr Tiger Woods has created an incredible amount of positive energy about Nike Golf and Nike."

While Mr Bob Wood also declined to discuss contract details, he did say the amount was partly tied to sales.