The tournaments sponsor PlusFore is currently trying to lock in Woods, whose suspected appearance fee is rumored to be in the neighborhood of $2 million, although the figure will not be officially released.
The only apparent catch for PlusFore is that half of that amount must be paid to Woods upfront by April 1.
The event will be hosted at the Paraparaumu Beach Golf Club, and has been slated for the next three years. While television coverage has yet to be secured, several other sponsors have, although no names have been released.
Click here for more news headlines!