Story highlights Tiger Woods at all-time low in rankings

Struggling to recover from back surgery

(CNN) Don't write off Tiger Woods just yet -- that's the message from Jack Nicklaus, rated by many as the greatest golfer of all time.

Woods' bid to overhaul the record 18 major titles won by the legendary "Golden Bear" has stalled since 2008, beset by personal problems and more recently a troubling back injury that even he has admitted could finish his time as a top player.

Woods, who is 40 at the end of December, gave a decidedly downbeat assessment of his future Tuesday, saying he had "nothing to look forward to." However, Nicklaus told CNN that his fellow American could still challenge in golf's top tournaments, including the four majors held each year -- of which he has won 14 since 1997.

"He has always been a very focused young man with a great work ethic, and is tremendously talented. To count him out of that (the majors record) would be foolish, he certainly has a very good chance of doing that," the 75-year-old said.

Woods holds the record of 683 weeks at No. 1 in the world rankings, but has slipped to an all-time low of 400 after a dismal year which has ended with back surgeries and no timescale set for his return to the PGA Tour.

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