In late 2009, we reported that TAG Heuer dropped Tiger Wood’s as a brand ambassador after what CEO Jean-Christophe Babin described tactifully as “recent events” surrounding the golfer. TAG Heuer joined AT&T, Accenture, Gatorade and Gillette in jettisoning their relationship with Woods.

But in October of this year, Rolex handed the struggling star his first major endorsement since his serial adultery came to light. Although terms of the deal were not made public, it’s believed to be for at least five years.

Earlier in his career, Woods was had an endorsement deal with Rolex’s entry-level brand, Tudor. That deal was scuttled when Tudor pulled out of the US market in 2002.

In a company statement, Rolex said it “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 golf.”

It remains to be seen whether the 35-year-old Woods can regain his previous form; he hasn’t won a tournament in two years and is no longer in the top 50 in the world rankings.