*After losing a bunch of endorsement deals following his cheating scandal, golfer Tiger Woods has signed on to represent watchmaker Rolex in a potential sign that he may be starting to turn the tide on the sponsorship front.
Reported by the Wall Street Journal, the deal was promoted on the company’s Web site as of early Wednesday evening where Rolex said Woods was joining “the family of Rolex ambassadors” who are chosen for talent, perseverance and passion for the sport.
Financial terms weren’t disclosed, but the Journal said experts believe Rolex got the Woods deal at a discount.
AT&T, Accenture, Gillette and watchmaker Tag Heuer are among the brands that have previously ended their endorsement relationships with Woods. Before the scandal, the golfer made around $90 million a year from his promotional deals and ranked as the most powerful endorsement figure in sports, according to the Journal.
Under the headline “Rolex and Tiger Woods: A Partnership for a New Challenge,” the watch company said on its Web site: “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.”
The company added: “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 hold. The brand is committed to accompanying him in his new challenges.”