Tiger Woods Foundation Joins DraftKings in Fantasy Golf Deal

(BLOOMBERG) - The Tiger Woods Foundation signed a contract with DraftKings Inc., making the No. 2 daily fantasy sports website a sponsor of two United States PGA Tour events.

The deal, which DraftKings says is the first in golf among daily fantasy companies, will make it a partner of the Quicken Loans National and the Deutsche Bank Championship, which benefit the charity.

The accord was announced in an e-mailed news release from the foundation. Terms were not disclosed.

"Many of our fans are playing fantasy sports games and we look forward to bringing them the source of these activities," Rick Singer, president and chief executive officer of the Tiger Woods Foundation, said in a statement.

In daily fantasy sports, players compete based on statistical performances of professional athletes in the rosters they create. The market is worth US$3.6 billion (S$4.97 billion), according to the Fantasy Sports Trade Association, and is forecast to grow to US$11 billion by 2018, according to Eilers Research LLC.

Closely held DraftKings has sponsorship deals with Major League Baseball and the National Hockey League, as well as partnerships with individual National Basketball Association and National Football League teams.

Woods, the former world No. 1 golfer and 14-time major tournament champion, currently is 79th in the Official World Golf Ranking, having not won a major title since June 2008.

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