Talking to Bloomberg Television's David Rubinstein, the Nike founder declares that in spite of Tiger Woods, the company could never be profitable on equipment sales.
After mentioning their recruitment of Woods had started three years prior to Tiger turning pro, Phil Knight says the math was simple.
“It’s a fairly simple equation, that we lost money for 20 years on equipment and balls,” Knight told interviewer David Rubenstein, host of “The David Rubenstein Show: Peer-to-Peer Conversations.” “We realized next year wasn’t going to be any different.”
The Bloomberg TV interview airs Wednesday at 9 pm ET.