Tiger Woods: Marriage Officially Over

Tiger Woods and Elin Nordegren have officially ended their marriage.
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(Tiger divorce story updated with more details on the divorce.)

NEW YORK (TheStreet) -- Tiger Woods and Elin Nordegren confirmed Monday that they have divorced.

"We are sad that our marriage is over and we wish each other the very best for the future," Tiger and Elin said in a joint written statement. "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."

Judgment was entered today in Bay County Florida Circuit Court dissolving the marriage. The Judgment provides for shared parenting of Tiger and Elin's two children Sam, 3 and Charlie, 1. Tiger and Elin were married in October 2004 in Barbados.

Elin has begun using her maiden name again according to a report from

ABC News

reported. Court documents also revealed that Elin was being advised by eight attorneys from several cities, including London, during the divorce proceedings. Tiger, according to ABC News, hired just one attorney.

USMagazine.com

reports that though the financial details of the settlement are unknown, word is Elin will be receiving at least $100 million from the settlement. A source tells the celebrity magazine that "the family is happy not only about the settlement, but also that Elin can put all this behind her and the kids can start to live a somewhat normal life soon."

Previously reports said that Elin would receive $750 million from the divorce settlement in exchange for her silence. Sources told

People

that silence was the biggest bargaining chip for Elin, helping to steadily drive up the settlement figure.

Since Tiger's November car crash last year and the subsequent unraveling of the sordid details of his extramarital affairs, numerous sponsors have cut ties with Tiger.

Sponsors that abandoned Tiger included

AT&T

(T) - Get Report

,

Accenture

(ACN) - Get Report

,

PepsiCo's

(PEP) - Get Report

Gatorade brand and

P&G's

(PG) - Get Report

Gillette. A study by finance professors at the University of California, Davis, estimated that shareholders of Tiger Woods-endorsed companies lost between $5 billion and $12 billion in market value after his sex scandal broke.

Nike

(NKE) - Get Report

and

Electronic Arts

(ERTS)

, however, have been steadfast about their support for the golfer, jumping at the opportunity to include him in

big ads

as soon as he fully re-emerged into the public eye in this past spring.

-- Reported by Andrea Tse in New York.

RELATED STORIES:

>> Tiger Woods Divorce: $750 Million Price Tag?

>> Tiger Woods' Sponsors Jumping Ship

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