Today Tiger Woods and Rolex announced a new partnership that marks the return of Woods to the world of big-time endorsements. The deal follows TAG Heuer’s August decision to drop Woods as an ambassador, and it is the first major endorsement deal for Woods since the downfall that began in November, 2009.

"Rolex is convinced that www.welwatch.org 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,” Rolex said in a statement posted on its official website on Wednesday. "The brand is committed to accompanying him in his new challenges.”

"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.”

In a sense, Woods is returning home. He signed an endorsement deal with Rolex’s Tudor brand in 1997, shortly after turning pro.

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