NEW YORK (

TheStreet

) -- Nike has been vocal about its support for

Tiger Woods

in its sponsorship deal, even as Tiger attempts to weather the media storm that has descended on his personal debacles.

But on Monday,

Nike's

(NKE) - Get Report

chairman and co-founder Phil Knight took the company's fervent support for the legendary golfer to a whole new level when he said that history will barely register Tiger Woods' infidelities when it looks back at his career.

Knight says that Woods-type scandals hasn't changed Nike's athlete-focused branding strategies. It's all "part of the game," he explains.

> > Tiger Woods Stock Index

"When his career is over, you'll look back on these indiscretions as a minor blip, but the media is making a big deal out of it right now," Knight tells

SportsBusiness Journal

in an interview. In fact, Knight still maintains that Woods' character has been exceptional, even as disappointed fans and sponsors continue to digest in disbelief the mounting revelations of his philandering ways.

"Obviously, he was one we checked out and he came out clean, and I think he's been really great," Knight tells

SBJ.

For Knight, building a brand around athletes always carries a certain risk that even the careful vetting of character can't prevent, but Woods has continued to impress him.

Many readers of

TheStreet.com

might disagree with Knight's views, given that the majority of respondents in our Tiger Woods poll last week said they think sponsors who are backing Woods are

making a mistake.

Those readers are probably now applauding

Accenture's

(ACN) - Get Report

TheStreet Recommends

decision to

end its deal with Woods

following his decision to take an indefinite hiatus from professional golf.

Meanwhile,

P&G's

(PG) - Get Report

Gillette division says it will begin reducing Wood's role in its marketing plans, while

AT&T

(T) - Get Report

and Tag Heuer say that they are reviewing his contracts with them.

-- Reported by Andrea Tse in New York

RELATED STORIES:

>>Tiger Woods, Dubai World Still Friends

>> Next Sponsor to Drop Tiger: Tag Heuer?

>> Tiger Woods Loses Accenture Sponsorship

>> Sponsors Should Drop Tiger Woods: Poll

>>Gatorade Drops Tiger Woods Drink

>>Tiger Woods' Sponsors (Mostly) Standing by Woods

>>Are Tiger's Sponsors Doing the Right Thing?

>>See our new stock quote page.

Follow TheStreet.com on

Twitter

and become a fan on

Facebook.

Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.