I know that discretionary spending is light thanks to the current economic crisis, but I found an interesting article on MSNBC.com that looked at what athletes other athletes would pay to watch. The number one answer was no surprise, Tiger Woods. Keep in mind that this wasn't a broad survey of athletes; in fact, it was just 40 athletes. Nevertheless, Tiger beat Michael Jordan (MJ) as the athlete most athletes would pay to see.I have seen MJ play in person (the good MJ, not the Wizards MJ), so I would have to say that I would pay to see Tiger (which would have happened if he hadn't been forced out of the Ryder Cup) knock that dimpled white ball around for 18 (or more) holes.
Who do you think is smiling more, MJ or Tiger? In reality, it's neither - it is Phil Knight and his gang in the great northwest ... Nike (NYSE: NKE). Both of these athletes are sponsored by the swoosh, and both rake in a lot of money for the company. If it weren't for Tiger, people may not be dishing out $56 for a dozen golf balls (I feel that $56 is a bit high for four dozen golf balls at the rate I lose them). What's more, if it weren't for MJ, we may never have heard of the Oregon-based athletic-apparel manufacturer. I know NKE was around before MJ, but he helped the company carve its niche.
Of course, considering the fact that NKE is trading near two-year lows at the $45 level, perhaps no one associated with NKE is smiling. That said, it certainly appears as if the stock may have formed a double bottom. Keep an eye out to see if the stock can rebound from the $45 level and break through overhead trendline resistance. If this happens, then it may be investors dishing out cash for NKE rather than 40 pro athletes.
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