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Geneva--Tiger Woods, the über-talented golfer whose personal and professional life took a nosedive after multiple reports of extramarital affairs surfaced, is the newest brand ambassador for luxury watch line Rolex.

In a statement issued Wednesday, Rolex said they are “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. The brand is committed to accompanying him in his new challenges.”

The brand said the association pays tribute to Woods’ “exceptional stature” and the role he plays in generating interest in golf worldwide. His partnership with Rolex officially begins on Jan. 1, 2012.

Woods joins a family of Rolex ambassadors that includes emerging young champions as well as established male and female golfers. Rolex’s association with the game of golf and its players stretches back to the 1960s with the brand’s support for the “Big Three” -- Arnold Palmer, Jack Nicklaus and Gary Player.

At one time the top golfer in the world, Eldrick Tont “Tiger” Woods raked in millions in endorsement deals with companies such as Gillette and watch brand TAG Heuer before news of his numerous marital infidelities began surfacing in November 2009.

Shortly after the scandal broke, TAG Heuer announced it was standing by the pro golfer but limiting his ads. The brand ended its endorsement deal with Woods when his contract expired earlier this year.