LAS VEGAS -- Tiger Woods will have the Monster logo on his bag for longer than just this weekend.

His deal with the energy drink company is a multiyear deal, Monster Energy vice president of sports marketing Mitch Covington confirmed Thursday.

While the deal was known since Woods debuted the logo on his bag this week in the Bahamas in his first tournament in 15 months, Monster did not officially confirm the relationship until Thursday.

"It's a multiyear deal," Covington told ESPN.com at the Wynn Las Vegas after speaking at a SportsBusiness Journal motorsports marketing forum. "There was some confusion in the press about whether we just had him for just one tournament, and that's not the case at all.

"We wish him the best in the comeback. We feel like that Tiger Woods is such a transcendent, legendary athlete that regardless of how his play goes, he's still an important property for us. We're certainly hoping that his comeback is successful."

Woods shot an opening-round 73 at the Hero World Challenge, his first round with the Monster logo on the bag. In his career spanning more than two decades, Woods had six previous sponsors on his golf bag.

Covington told the forum attendees not to expect Monster to start signing golfers -- just the one with 79 career PGA Tour victories.

"We continue to add athletes and properties that make sense for us as we grow," Covington said. "A lot of times, people are saying, 'Are you getting into golf now?' Not really. We found an athlete that wins.

"We found a transcendent, legendary athlete in Tiger Woods that is arguably one of the greatest athletes of our day. Monster likes to associate with winners. Tiger Woods is a winner and we think is going to win again."

Woods joins a group of mostly action sports and motorsports athletes who endorse the brand. Monster Energy turned a $546 million profit in 2015 and didn't even issue a news release to announce the new partnership with Woods.

"Our rollout there was him walking out on the course rather than making a formal corporate announcement," Covington said after the forum. "We're super-excited. We think he is a great fit for the brand. He's a true, determined competitor that transcends golf.

"We've got a really good relationship with Tiger and we are really excited about his comeback. We think it's going to be good for us, obviously, and he's been great to work with."

Whether Monster unveils a drink tied to Woods remains to be seen.

"That's always a possibility," Covington said. "We talk to a lot of our athletes about what they need and what they like in the way of a beverage. We take that into a strong consideration of the potential of doing that. There is nothing official."