Woods signs for Rolex as Tiger makes a comeback

YET ANOTHER comeback for Tiger Woods gets underway at the Frys.com Open today as the fallen world number one, who now languishes outside the top 50, tees off is a strictly second tier event with a purse of just $5m. But off the course things could be looking up for the errant golfer, whose image has suffered just as much as his game since revelations about his private life led to the collapse of his marriage and turned him into marketing kryptonite in 2009.

As details of his many extramarital affairs began to emerge sponsors scrambled over each other to cancel deals and distance themselves from the errant sportsman. One of the first to get the fear was Swiss watchmaker Tag Heuer, which stopped using the golfer's image as soon as the scandal broke. And when his contract officially expired two months ago he was formally dropped by the company.

Woods has now thrashed out a deal to become an "ambassador" for rival Swiss watch manufacturer, Rolex, and has signed his first major endorsement deal for two years.

It is unlikely to make Woods big bucks, given that his reputation is still tarnished and he has not won a tournament for two years, but his agent, Mark Steinberg, described the deal as "a big statement", and it could mark something of a turning point in the golfer's fortunes.

It is claimed that he has lost as much as $25m in sponsorship deals since 2009, after big-name backers like Gillette, Gatorade, Accenture, Golf Digest and AT&T turned their backs on him. Although Nike stood by him it was apparently on much reduced terms.

In addition to Rolex there are rumours of a deal with US electronics manufacturer Fry's – the sponsors of his comeback event – and Steinberg said there was a deal for Woods's golf bag, which has been without a sponsor since late 2009, in the offing. ·