Woods set to sign new Nike deal bigger than McIlroy's 10 mln pound-contract

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, the Mirror reports.

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, the report added.