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Tiger Woods lands endorsement deal with Rolex

October 5, 2011 | 10:32 am

Tiger Woods has fallen on some tough times lately, but he is ready for a comeback -- at least in the advertising world.

The former No. 1 golfer in the world -- who recently dropped out of the top 50 -- will be an ambassador for Rolex in a deal that is believed to be for at least five years.

It is the first major endorsement Woods has landed since his serial adultery was exposed nearly two years ago. He had lost five major endorsements -- including one with another watch company, Tag Heuer, two months ago -- since that time.

He also has not won a tournament in that span.

“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,” the company said in a statement.

Mark Steinberg, Woods' agent at Excel Sports Management, says more such endorsement deals should be coming his client's way.

“This makes a big statement,” Steinberg said of Woods, who announced a deal to endorse a heat rub product in Japan this year. “I think this shows me where people are with Tiger Woods.”

Woods is taking part in this week's Open at the CordeValle Golf Club in San Martin, Calif. It's one of four events remaining on his schedule this year.


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The Associated Press contributed to this report.

Photo: Tiger Woods laughs with caddie Joe LaCava during the Pro Am of the Open at the CordeValle Golf Club in San Martin, Calif. Credit: Robert Laberge / Getty Images