Woods’s agent, Mark Steinberg, said in an e-mail that the bag will now feature a Nike-brand "TW" logo and be carried by long-time caddie Steve Williams.

Woods signed with Beaverton, Oregon-based Nike Inc. after turning pro in 1996. The No. 1 golfer in the official World Golf Ranking has a branded clothing line, TW, with Nike, the world’s largest maker of athletic shoes.

In developing Nike Sense adaptive traction technology, designers created an adaptive stud that can extend and retract by up to 3mm, based on ground conditions and pressure exerted by the player. Directionally positioned blades maximize cutting and allow for quick changes of direction, while secondary toe traction provides added toe-off power for those first critical steps. The result is a boot that enables greater speed in all directions.

The deal takes effect this month and includes a line of dresses designed by the former top-ranked tennis player. The 22-year-old will also get a percentage of sales, according to the person, who asked not to be identified because the terms are private. Nike spokesman Derek Kent declined to comment.

Nike is the world's largest athletic-shoe maker, and has worked with the Russian for 11 years. Since winning Wimbledon in 2004 at the age of 17, Sharapova has become one of the biggest draws on the WTA Tour and the world's best-paid female athlete. She has also won the Australian and U.S. Opens.

"Sharapova is one of those stars whose name transcends sports, similar to David Beckham," said Stefan Szymanski, an economics professor at the Cass Business School in London. "She's become an international celebrity first, and an athlete second."

Phil Knight, the chairman and co-founder of the sportswear company, has given his unequivocal backing to Woods at a time when other sponsors are distancing themselves from the world's top golfer. Knight said: "When his career is over, you'll look back on these indiscretions as a minor blip." Speaking to the Sports Business Journal, Knight brushed off the scandal engulfing Woods as "part of the game" of sponsorship deals.

Woods has announced he is taking an "indefinite" break from golf after admitting infidelity. The admission prompted the financial services company Accenture to sever links with Woods. Proctor & Gamble and Gillette have said they would limit the use of Woods in its marketing

"Tiger and his family have Nike's full support," the company said in a statement Monday. "We respect Tiger's request for privacy and our thoughts are with Tiger and his family at this time." Woods, 33, has backed out of his last golf tournament of the year, the Chevron World Challenge in California, citing unspecified injuries from the accident.

If the agent's objective was to rehabilitate Vick's image, the attempt backfired, says marketing consultant Ernest Lupianacci, a former creative director for Nike advertising.

"This agent put his Air Vick in his mouth," Lupinacci says.

Vick's personal agent, Joel Segal, told SportsBusiness Journal on Wednesday that the quarterback was "excited to be part of the Nike team again."

Darren Rovell, CNBC's sports business reporter, first reported the news. Rovell Tweeted: "Nike spokesman says Swoosh doesn't have contract with Vick. Just giving him free product. I Knew this was all bogus."

"Nike does not have a contractual relationship with Michael Vick. We have agreed to supply product to Michael Vick as we do a number of athletes who are not under contract with Nike."

We spoke to a rep for Nike, who said AM had been working with Nike for months on a limited edition line of Nike Dunks with his own logo emblazoned on them. We're told the design was complete and approved by AM, but Nike isn't releasing them yet because they are working with his family to figure out the "next step in terms of release."

But Chief Executive Mark Parker did talk of a "swoosh recovery," equating gradual improvement in the world economy with the upward curve of the company's logo.

"We're certainly on that longer road up to recovery," Parker said on a conference call. "But it will take awhile, let's be real."

Citing "irreparable harm and damage," ELVH is asking for the impoundment and destruction of all the shoes in question, as well as all profits from the sale of the shoes and damages.

As previously reported by Footwear News, Van Halen released a line of men's high-and low-top sneakers featuring the Frankenstein design earlier this spring though licensee New Jersey-based FEA Merchandising, a company specializing in recording-artist merchandise.

Nike and Adidas took the top two spots on the Brand Strength Index (BSI) for the teen respondents and the overall index, scoring even higher with teens than on the overall. Under Armour was No. 3 on the teen Brand Strength Index, more than 80 points higher than on the overall index. The Speedo, Puma and Jordan brands all saw their BSI ratings jump considerably with teen consumers vs. the overall index. Nike sits atop the BSI rankings for both males and females in the teen report, with teen males rating the brand 61 points higher than teen females. Likewise, teenage males rated Under Armour almost 100 points higher than teenage females. Awareness of the Under Armour brand was 13 percentage points higher in teen males than teen females. Puma scored higher with teenage females than it did with teenage males. Puma jumped into the top five for the females, with 82 percent of the female respondents reporting they would be at least “somewhat likely” to purchase the Puma brand again in the future.