Tiger Woods Secures First Major Sponsorship Deal Since Scandal

Tiger Woods has agreed a sponsorship deal with luxury watchmaker Rolex Group, link his first major sponsorship deal since the scandal that followed the car crash in November 2009 that led to his admission of marital infidelity and divorce.

TAG Heuer, the Swiss watchmaker owned by LVMH Moet Hennessy Louis Vuitton SA , ended its endorsement agreement with Woods when their contract expired in July.

In the previous 19 months, Woods lost endorsement deals with companies including AT&T Inc., Accenture PLC and PepsiCo Inc.’s Gatorade brand. The 14-time major champion has maintained commercial contracts with Electronic Arts Inc, Nike Inc, Upper Deck, Berkshire Hathaway’s NetJets Inc., and TLC Vision Corp. He began promoting a muscle-relief heat rub made by Japan-based Kowa Co. in June.

Woods, 35, this week dropped out of the top 50 in the Official World Golf Rankings for the first time since October 1996. He hasn’t won a tournament since the 2009 Australian Masters, a week before he crashed his car near his home in Florida and started off the series of events that have led many to question his morale compass and his decline from the game.

Hampered by Achilles tendon and knee injuries, Woods failed to qualify for the U.S. PGA Tour’s playoffs this season.

For his career, Woods has 71 PGA Tour wins, third all-time behind Sam Snead (82) and Jack Nicklaus (73). The 14-time major winner will return to action at the Frys.com Open at CordeValle Golf Club today.

“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,” said the company, which also has had relationships with Arnold Palmer, Jack Nicklaus and Gary Player.

Other Rolex endorsers include fellow golfers Phil Mickelson, Luke Donald, Adam Scott, Rickie Fowler and Lorena Ochoa, and tennis professionals Roger Federer and Caroline Wozniacki.