June 18 (Bloomberg) -- Tiger Woods is joining Arnold Schwarzenegger in a new sponsorship agreement with a Denver-based sports nutrition company.
MusclePharm Corp., which also has endorsement agreements with Schwarzenegger, the former California governor and bodybuilder, San Francisco 49ers quarterback Colin Kaepernick and Ultimate Fighting Championship, signed Woods to carry its logo on his golf bag and appear in advertisements.
It’s the fifth career bag sponsorship for Woods, who has only finished one U.S. PGA Tour event this season due to a back injury. He had previous agreements with Titleist, Buick, AT&T Inc. and Fuse Science Inc.
As part of the four-year MusclePharm agreement, the 14-time major tournament winner will be paid an undisclosed annual cash retainer. Woods’s company, ETW Corp., will also receive MusclePharm restricted common stock valued at $5 million, according to a company filing.
Woods and MusclePharm have an option to extend the endorsement pact for two additional years after it expires on June 30, 2018, according to a company filing.
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