Bookmaker: Tiger turned down $75M
AFP
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Paddy Power made an initial offer to pay the sum over a five year period but, after talks with Woods' management company IMG, it was rejected.
But Paddy Power wanted to continue talks in hopes of making a revised offer.
"Paddy Power remains keen to work with Tiger Woods, and will reengage with IMG," its statement said.
"An enhanced offer will be made, the details of which will remain confidential."
Woods lost a number of high-profile sponsors following the publicity surrounding his extramarital affairs.
He recently made a public apology over his actions but did not give a timeframe for returning to professional golf.
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