Golf Business Community

The former world No.1 has lost five major partners since he was exposed for serial extramarital affairs and eventually divorced. One of the partners to drop him was Rolex’s rival in the luxury watch market Tag Heuer, which ended its deal two months ago. The new agreement with Rolex sees Woods become one of the firm’s brand ambassadors with the company describing the deal as a “partnership for a new challenge”.

"Rolex is convinced that Tiger Woods still has a long career ahead of him and that he has all the qualities required to continue to mark the history of golf," Rolex said in a statement on Wednesday. "The brand is committed to accompanying him in his new challenges. This association pays tribute to the exceptional stature of Tiger Woods and the leading role he plays in forging the sport's global appeal. It also constitutes a joint commitment to the future."

Woods earlier this year announced a deal in Japan to endorse a heat rub product for Kowa Company Ltd., although this was targeted towards the Japanese market. Along with Tag Heuer, AT&T, Accenture, Gatorade and Gillette have all parted company with Woods since the scandal. However, further agreements are expected to be announced and the 35-year-old’s power as a sporting brand was demonstrated this week as he remained top of Forbes’ list of the most valuable athletes in the world.

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