TaylorMade, the Adidas-owned golf-club maker based in Carlsbad, Calif., scored an enormous coup this week when it signed Tiger Woods to a multiyear endorsement deal for clubs.

Woods has been an equipment free agent since last summer, when Nike halted its equipment business, freeing up any Nike-endorsed golfers to sign with someone else for clubs and balls. TaylorMade has existing deals with Dustin Johnson, winner of last year’s US Open, and with Jason Day, the No. 1 golfer in the world. But Woods, even without winning a Major golf tournament in the last nine years, is instantly the biggest name in the TaylorMade portfolio.

And yet, Adidas is actively trying to rid itself of the company.

Adidas Group announced last May that it intends to sell off TaylorMade, which it first acquired in 1997 when it bought ski-maker Salomon. (It is also seeking a buyer for Adams, a smaller club-maker it owns, and Ashworth, a golf apparel line.) TaylorMade sales fell in 2015 for the third straight year, to $995 million.

“TaylorMade is a very viable business,” then-CEO Herbert Hainer insisted at the time. (Kasper Rorsted is now the CEO.) “However, we decided that now is the time to focus even more on our core strength in the athletic footwear and apparel market… the planned divestiture [of TaylorMade] will allow us to reduce complexity and focus our efforts on those areas of our business that offer the highest return.”

That was nearly nine months ago, and no buyer has emerged.

During that time, Nike also dropped from the golf equipment business, causing a number of athlete shifts (TaylorMade athlete Jason Day was able to sign an apparel deal with Nike since it is no longer an equipment competitor to Adidas; Woods signed with Bridgestone for balls; Rory McIlroy is being wooed by equipment makers) and golf retail chain Golfsmith filed for bankruptcy and subsequently sold to Dick’s Sporting Goods.

Amid all that movement, there were early rumors that Woods was mulling a play to buy TaylorMade himself, with a group of investors. That has not materialized, and a TaylorMade rep told ESPN the deal does not include equity in the company for Woods. But Woods getting no equity in TaylorMade does not necessarily rule out a Woods-led purchase of TaylorMade, though it looks unlikely.

For now, his contract is strictly an endorsement deal, with price tag not disclosed, for Woods to play in tournaments with TaylorMade woods, irons, wedges, and driver. (He will continue to use the Titleist Scotty Cameron putter.) The deal does not cover apparel; Woods is still a Nike-outfitted athlete. That means you won’t see the TaylorMade logo on his clothes or bag. Down the road, Woods will “co-create with TaylorMade’s club engineers and have an integral role in the design and development of a new, personalized iron model that will make its debut in Tiger’s bag at a future date to be determined.”

Instead of selling, might Adidas just hold on to TaylorMade, after a double-digit sales rise in the second quarter of 2016, and now that it boasts the most famous active golfer on the planet in its portfolio? Adidas still says no. “There are no changes to our plans for TaylorMade,” a spokesperson says.

Of course, every company stays silent until there’s news to announce. Woods joining the TaylorMade family inarguably changes things. It might help the company climb back market share, which would make it more attractive to a buyer. And it makes the brand more relevant and will surely give it new exposure, as all eyes are on Woods whenever he competes. The 41-year-old this week said he is “looking forward” to playing at The Masters in April.

The result could be finally finding a buyer, as Adidas hopes, or a cancellation of that effort.

—

Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Follow him on Twitter at @readDanwrite.

Read more:

Tiger Woods is back, and he has no equipment deal

Why pro golfers might soon make less money

Nike giving up on golf clubs isn’t just about Tiger Woods

Why Adidas is finally selling off its golf club business