The agreement has been signed by Tiger Woods and Bridgestone that would enable the former No. 1 golfer to advertise the golf ball line. Bridgestone, widely regarded as one of the largest tire manufacturing companies in the world, will appear Woods in all advertising, such as prints, television and social media campaigns, to promote the golf products.

The two sides did not reveal financial terms of the deal, but Corey Consuegra, a senior director of marketing for Bridgestone, anticipates that Woods' decision to represent the company as an endorsor will help boost the golf brand growth.

Woods used the Bridgestone golf equipment (Bridgestone Tour B-330s) at the Hero World Challenge at Bahamas a couple of weeks ago. Before joining the brand, he previously used equipment from Titleist for more than three years. Woods has also used equipment from Nike since 2000, when he inked a new 5-year, $105 million contract with the shoe maker at the time. He still represents Nike as an endorsor.

Woods discovered a new golf ball brand through experiment

When Nike, better known as one of the biggest suppliers of footwear and apparel in the world, decided to terminate the golf equipment business, Woods sought another brand that would enable him to use a new golf equipment and represent him as a new endorser.

Woods achieved a new deal with Bridgestone after experimenting golf balls.

"Tiger did extensive testing with the golf ball," Woods' agent Mark Sternberg said. "He was very diligent and tested with a number of competitive golf balls. In the end, he felt the Bridgestone 330s fit his game the best."

As Consuegra noted that Woods' decision to join the company can help boost the credibility of the brand, Woods has numerous golf associates on the Bridgestone roster as ambassadors, including FedEx Cup champion Brandt Snedeker, Olympic bronze medalist Matt Kuchar, Masters winner Fred Couples, and three-time major winner Nick Price.

Bridgestone lists as one of the most successful golf brands in the business

Golf DataTech reported that Bridgestone ranked third most attractive golf brand in the industry following Titleist and Callaway. It is also reported that the Bridgestone's golf ball retail market size is $420 million. Bridgestone has 20 percent of the global market share with approximately 200 million golf balls being marketed in the U.S. annually.

"Bridgestone already has a great reputation in golf and has gained market share over the past several years with their golf ball innovations and with their suite of athletes," president and CEO of PGA Tour Superstore Dick Sullivan said.

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