Tiger Woods is building a high-end restaurant in Jupiter, Florida, at a price tag of $8 million. It's a very ambitious project, but one that could thrive in the resort town, which is flush with wealth thanks to residents like Woods himself and Michael Jordan.
The restaurant will be called "The Woods Jupiter: Sports and Dining Club." It's a bit of a mouthful. If you're wondering why it isn't called "The Tiger Woods Jupiter," Sports Illustrated can explain why.
In a conversation with property developer with Nicholas A. Mastroianni II, the magazine found out that the full name "Tiger Woods" isn't on the table because, despite that being his name, Woods is barred from using it:
"Mastroianni said he was told that Nike 'has the rights to the name Tiger Woods,' which prevented Woods using his first and last name in the restaurant name," according to Sports Illustrated.
It doesn't stop there, either. Nike's stranglehold on the Tiger Woods name has led it to be very controlling about how it is used -- even in ways that seem innocuous or even obvious.
"Mastroianni said that anytime he wants to use Woods's name in a press release or anything similar he needs permission from Woods's business people," according to SI, which quotes Mastroianni as saying the rules are "over the top."
It's not clear if Nike has similar agreements in effect with other sports figures. Few, if any, have the name-brand value of Woods, but it's surprising that he would accept such extreme conditions even when he's working in an industry outside of Nike's scope.
Bet you didn't even know you could sell the rights to your own name to a company.