On the 3rd (Korean time), Kim Joo-hyung, the ‘rising star’ of the American Professional Golf (PGA) Tour, announced the news of his contract with Nike through his SNS. He released photos and videos of training wearing a Nike hat and clothes ahead of the PGA Tour Sentry Tournament of Champions, which opens on the 6th.
Since the contract was signed in the US, the exact terms and conditions such as the down payment were not disclosed. However, it is expected that he will receive at least 5 million dollars (about 6.3 billion won). This is about 50 times higher than the contract with CJ three years ago.
Joohyung Kim was sponsored by CJ for three years starting in 2020. At the time of his contract, the estimated ransom of Kim Joo-hyung, who played on the Asian Tour and Korean Tour, was in the range of 100 million to 150 million won.
CJ pushed for a renewal of the contract at the end of last year. Word leaked out that he offered an annual down payment of around $1.5 million in consideration of the effect of increasing his status, such as winning the PGA Tour. However, as Nike offered better terms, he chose a beautiful farewell.
The reason Kim Joo-hyung’s ransom soared to the ceiling is not only his outstanding skills, but also the result of adding future value to these various charms.
Global companies sponsoring players on the PGA Tour, such as Nike, determine down payment based on winning records, world rankings, and future value. It is common for players within the top 50 in the men’s golf world rankings to start at least $2 million.
Kim Joo-hyung is the third Nike to sponsor a Korean player, following Choi Gyeong-ju (52) and Roh Seung-yeol (31). If there is a difference, it is the evaluation of Kim Joo-hyung and the increased ransom.
The reason why Nike recruited Choi Kyung-ju in 2005 and Roh Seung-yeol in 2013 was to strengthen its penetration into the Asian market. However, this contract with Kim Joo-hyung is highly valued for its utilization in the global market beyond Asia.
Born in Korea, Kim Joo-hyung played in Southeast Asia, including the Philippines and Thailand, and lived in Australia as a junior. After his pro debut, he advanced to the PGA Tour last year after going through the Asian Tour and the Korean Tour. Thanks to his long life abroad, he can speak English freely and has excellent expressiveness and a friendly image.
Kim Joo-hyung, who represented the international team at the Presidents Cup held in September, performed an intense ceremony with a 3m 안전놀이터 birdie putt on the 18th hole against Patrick Cantley and Zander Shopley of the US team. Fans went wild with the ceremony, reminiscent of Tiger Woods (USA), and this putt made a strong impression to the extent that it was selected as the ‘Put of the Year’ by the PGA Tour and others. After the game, he interviewed local media in fluent English and was seen communicating freely with the players.
An official from Nike Korea said, “The various charms of Kim Joo-hyung are attracting attention from golf fans all over the world beyond Asia, and even in the evaluation of colleagues, he is very familiar and has a high future value.” It fits well,” he said.
Kim Joo-hyung started his career in August of last year with a special temporary membership of the PGA Tour, and won the Wyndham Championship for the first time, attracting attention. After that, he participated in the Presidents Cup held in September as a representative of the international team and performed an impressive performance by winning points against a strong player in the United States. He rose to the ranks of ‘star’.
In particular, Kim Joo-hyung broke the record of Tiger Woods, the ‘golf emperor’, with his second win. Woods achieved two wins on the PGA Tour at the age of 20 years, 9 months and 21 days, and Kim Joo-hyung, about 6 months earlier, at the age of 20 years, 3 months and 18 days. Kim Joo-hyung, who has raised the world rankings to 15th with his great success in a short period of time, is being picked as a ‘player to watch’ by various media outlets in the United States ahead of this season.
Kim Joo-hyung, who wore a Nike cap, said in an interview with the Associated Press, “I am very grateful that they thought of me (on the recruiting list).” .
Starting on the 6th, Kim Joo-hyung will participate in the PGA Tour Sentry Tournament of Champions (total prize money of 15 million dollars) held at the Plantation Course (par 73) in Kapalua, Maui Island, Hawaii, USA, and will go on a hunt for his third personal victory with his first win of the new year.