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Tiger Woods signs apparel and footwear deal with TaylorMade following his split with Nike

Tiger Woods and TaylorMade have made it official. The golf great has agreed to create a new apparel and footwear performance and lifestyle brand with the Carlsbad, California company following his recent split with Nike.

The brand, Sun Day Red, will be available first only online beginning in May. "Life changes and this is important transition and I wanted to have a brand that I was proud of going forward," Tiger said.

Woods says the name of the brand "Sun Day Red" is a tribute to the fact that he's always worn red on Sundays. The tiger logo is a tribute to the 15 majors he has worn over the course of his career.

TaylorMade and Woods announced the news Monday night during a press event in Pacific Palisades, California, ahead of the PGA Tour's Genesis Invitational, an event he hosts.

"It's the right time," Woods said, appearing in a cashmere sweater from the new brand.

Woods' relationship with TaylorMade dates back to 2017, when the two signed an equipment deal that has him playing with the brand's driver, fairway woods, irons and wedges.

Woods said he was courted by other companies but he trusted TaylorMade for their ability to "get it right."

TaylorMade CEO David Abeles said Woods had been an inspiration for his team, including his discipline and meticulous approach to product design.

The new brand includes an entirely new company with separate headquarters and employees who are solely focused on its development, Abeles said.

"There is no influence from TaylorMade on this brand. His brand stands alone and is independent from TaylorMade," Abeles said.

Last month, Woods announced his split from longtime apparel partner Nike after 27 years. Woods' agent, Mark Steinberg, told CNBC at the time that the golfer made the business