Tiger Woods has his first major endorsement since his downfall two years ago, announcing a deal Wednesday to be one of its ambassadors.

Woods had lost five major endorsements in the two years since he was exposed for serial adultery and eventually divorced. He previously had a watch deal with Tag Heuer, which dropped him two months ago. ( Callaway Diablo Octane Black Tour Driver )

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

Woods earlier this year announced a deal in Japan to endorse a heat rub product for Kowa Company Ltd., although that was geared exclusively for Japanese markets.

Woods has lost endorsement deals with AT&T, Accenture, Tag Heuer, Gatorade and Gillette since his downfall.

Steinberg said he would be the first of a "couple of announcements" related to endorsements, including a deal for Woods' TaylorMade R11 Bag. He has had his foundation logo on the bag since AT&T dropped him a month after Woods' sex scandal unfolded in November 2009.

He said a bag deal was likely to be announced as early as six weeks. Woods has been in negotiations with Fry's Electronics, sponsor of this week's tournament, although those discussions have been going on for most of the year.

Swiss-based Role said it was paying tribute "to the exceptional stature of Tiger Woods and the leading role he plays golf in forging sport's global appeal."

"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 Callaway Diablo Octane Black Tour Driver," the company said in a statement.

Woods has 14 majors and 82 wins worldwide, although none since he won the Australian Masters on Nov. 15, 2009. He fell out of the top50 inthe world ranking for the first time in 15 years.

He missed most of this summer recovering from injuries to his left leg. Woods is playing four more times this year, starting with the Frys.com Open, followed by the Australian Open, Presidents Cup and the Chevron World Challenge.

Typical of his previous endorsements, Steinberg said the Role logo would not be visible as Woods plays Callaway Diablo Octane Black Tour Driver. He had a watch in his bag during the pro-am, Steinberg said. Woods doesn't wear a watch when he plays golf.

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