London: World No. 1 Tiger Woods is set to sign a new deal with Nike, which will be worth more than Rory McIlroy`s 10 million pounds-a-year contract.
Woods, who first signed for Nike in 1996, is in the final year of his current seven-year deal, which is worth 140 million dollars.
According to the American`s agent Mark Steinberg, the new `multi-year deal` would help Woods to retain his position as the golf`s top paid player.
Steinberg further said that it is just a matter of time for the announcement to come out, adding that he is confident that Woods will be with Nike for his entire career.
Earlier this year, McIlroy agreed to a 10-year- deal with Nike, which is estimated to be worth 100 million pounds.
Meanwhile, commentator and Woods` former coach Butch Harmon has quit Twitter after a comment he wrote about his student Nick Watney having some `personal problems` when he missed the cut at the Memorial last Friday.