Tiger Woods' agent Mark Steinberg has confirmed the world number one is close to signing a new endorsement deal with Nike.

The deal, which will take effect when his current one expires at the end of 2013, is set to see Woods stay the world's highest paid golfer.

"We're down to the very, very short strokes right now," Steinberg told ESPN. "I would expect we would come out with some sort of joint announcement when we get the paperwork signed. I hope this is viewed as a pretty bold statement."

Woods has said he knows every detail of the negotiations and expects to sign the new contract as soon as the completion of the US Open, which starts on June 13 at Merion.

Nike will no doubt be feeling vindicated in deciding to stick with the 14-time major champion in the wake of the sex scandal that led to him divorcing wife Elin Nordegren.

While endorsement deals with Gillette, Accenture, AT&T and Gatorade ended following those damaging revelations, Nike stood firm behind their man.

"Tiger started his professional career with Nike in 1996," Steinberg said. "He has a long way to go in his career, but I feel with the type of deal we've constructed I feel confident that he will be with Nike for his entire career."

In the last six months, Woods has repositioned himself as the world's best golfer and has picked up four victories in 2013 already. A major win still eludes him, however, with his last triumph in golf's big four coming at the 2008 US Open, five years ago.

Sports Illustrated reports that Woods makes about $40m a year, which include his prize money and Nike deal along with endorsement contracts with Rolex, Fuse, EA Sports, NetJets and Japan's Kowa.

Golf 365