Tiger Woods and wife Elin Nordegren have confirmed that they have divorced

The world number one and his now former wife made an announcement on Monday via his official website.

While details of the divorce settlement have not been released, speculation has been rife as to the amounts involved, with a conservative estimate being at over £100million and some reports claiming the figure could be in excess of £500m.

A statement read: "Elin Nordegren and Tiger Woods confirmed today that they have divorced.

"Judgement was entered today in Bay County (Florida) Circuit Court dissolving the marriage.

"The judgement provides for shared parenting of their two children."

The announcement came following a number of revelations regarding the 34-year-old having had a number of affairs, with the allegations leading to Woods losing a number of lucrative endorsements, as well as resulting in him going through a major loss of form on the golf course.

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Woods and Nordegren released a joint statement, saying: "We are sad that our marriage is over and we wish each other the very best for the future.

"While we are no longer married, we are the parents of two wonderful children and their happiness has been, and will always be, of paramount importance to both of us.

"Once we came to the decision that our marriage was at an end, the primary focus of our amicable discussions has been to ensure their future well-being.

"The weeks and months ahead will not be easy for them as we adjust to a new family situation, which is why our privacy must be a principal concern."

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Woods' slump in form was most recently seen as he struggling finished 28th at the USPGA Championship earlier this month in a result that meant he now cannot automatically qualify for the United States team.

But Woods remains confident of playing a part at Celtic Manor, despite him now relying on Corey Pavin naming him as one of his four wild card picks on September 7th.

Following the conclusion of the PGA Championship, Woods joked: "I think I got a chance of maybe helping out in singles. Save me for singles."

But he added: "I feel like my game is a lot better than it was last week and, given a little bit more time, it's starting to head in the right direction now, which is good.

"I'm looking forward to it, hopefully Corey will pick me on the team. Corey texts me a lot so I'm sure he'll be texting me or calling me and I'm sure we'll be talking."