Tiger signs endorsement deal with Rolex

Published Oct. 5, 2011 1:00 a.m. ET

foxsports

Tiger Woods returned to the PGA Tour with a new endorsement deal with Rolex.

It's the first major endorsement deal for Woods in more than two years. He previously had an endorsement with Tag Heuer, which dropped him two months ago. Woods will become one of the global ambassadors for the Swiss-based watch company.

Terms of the Rolex deal were not disclosed, although it is believed to be longer than five years.

Rolex says it is convinced that Woods still has a long career ahead of him. Woods, who has 14 majors and 82 wins worldwide, has not won in nearly two years. He lost five major endorsement contracts in the two years since he was exposed for serial adultery and eventually divorced.

Woods is playing this week at the Frys.com Open.