Nike (NKE +0.7%) founder Phil Knight tells Bloomberg TV that the company lost money on golf equipment and balls for 20 years, despite the rocket shot of stardom for Tiger Woods (11 PGA player of the year awards from 1997 to 2013).
"We realized next year wasn’t going to be any different," observes Knight on the decision to pull out of golf.
In a rather interesting statement, Knight, who is no longer on the board, says he sees Nike manufacturing returning to the U.S. in the future through automation.
"So out there somewhere -- five or 10 years -- there will be some shoe manufacturing done in the United States, which is I suppose the good news. The bad news is, there won’t be a lot of jobs. It’ll be very automated," Knight says.
The full Phil Knight interview airs tonight on Bloomberg TV
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