SAN MARTIN, Calif. — Tiger Woods has his first major endorsement since his downfall two years ago, announcing a deal Wednesday with Rolex to be one of its ambassadors.
Woods had lost five major endorsements in the two years since he was exposed for serial adultery and eventually divorced. He previously had a watch deal with Tag Heuer, which dropped him two months ago.
Terms of the deal were not disclosed, although it is believed to be longer than five years.
Woods earlier this year announced a deal in Japan to endorse a heat rub product for Kowa Company Ltd., although that was geared exclusively for Japanese markets.
The Rolex deal is far more significant, and it was announced a day before Woods returns to the PGA Tour at the Open. His agent at Excel Sports Management, Mark Steinberg, promised more deals to come.
“This makes a big statement,” Steinberg said. “I think this shows me where people are with Tiger Woods.”
Woods has lost endorsement deals with AT&T, Accenture, Tag Heuer, Gatorade and Gillette since his downfall.
Steinberg said Rolex would be the first of a “couple of announcements” related to endorsements, including a deal for Woods’ golf bag.
Rolex said it was paying tribute “to the exceptional stature of Tiger Woods and the leading role he plays in forging sport’s global appeal.”
The Associated Press
