Woods sued Christensen Shipyards for breaching a contract they signed with the golf superstar in February 2004, forbidding the Canadian firm disclosing his identity as the owner of one of their craft. Woods’ image was used in photographs distributed to yachting magazines and his name used to promote the company during a boat show.
The rights-of-publicity lawsuit was worth $50m – the amount Woods estimated he was worth as a product endorser.
The lawsuit was settled on Monday ‘on undisclosed terms’.
Joe Foggia, president of Christensen, said: “We made a mistake and truly regret the company's conduct.”
A multi-million dollar lawsuit brought by Tiger Woods against the builders of his luxury $20m yacht has been settled.
