Rolex, Tiger Woods in Endorsement Pact

Luxury watch maker Rolex said it has signed Tiger Woods to a five-year contract under which he will become the global spokesman for its Tudor line of watches and will have a watch named after him. Privately held Rolex declined to say how much the deal was worth, but the trade magazine Brandweek said it was worth up to $7 million, including endorsement fees and royalty payments. Woods, the winner of the prestigious Masters golf title and several other major championships since turning professional in August, already has endorsement deals for sports shoe and apparel company Nike, golf equipment maker Titleist and for American Express.