Woods has suffered from back problems that most recently prompted him to withdraw from the Farmers Insurance Open in February. He had surgery on his back last year and has either withdrawn from tournaments or performed badly in them since.
Nike has long sponsored Woods.
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"I'm playing in the Masters," Woods said, Friday afternoon. "I've worked a lot on my game and I'm looking forward to competing. I'm excited to get to Augusta and I appreciate everyone's support."
CNBC's Jessica Golden contributed.