NEW YORK ( TheStreet) -- Tiger Woods' Dubai partners will continue to work with him on a golf-course project, it was announced Wednesday, as the two once-high-flying brand names desperately cling onto each other amid their recent respective financial and media maelstroms. Despite Dubai's serious cash liquidity problems, it is pushing ahead with plans to develop a golf-course named after none other than Tiger Woods himself. Dubai Properties, the Dubai state-linked property developer working on the long-delayed project, says it will not comment on Woods' personal problems. >> Click here for The Tiger Woods Stock Index "The Tiger Woods Dubai does not comment on the personal lives of our valued partners," the project's statement said. The statement also said that Dubai Properties could "confirm that it remains committed to the completion of its centerpiece al-Ruwaya golf course ... progress continues on the first golf course designed by Tiger Woods Design." The Windermere, Florida-based Tiger Woods Design is headed by Woods, and the course is part of a far larger leisure and entertainment development on Dubai's dusty outskirts known as Dubailand. Officials had planned to open multiple theme parks, including Universal Studios, Legoland and Six Flags, but the economic downturn has called many of those plans into question.
Dubai Properties is part of the state-owned Dubai Holding conglomerate, which many fear could become the next Dubai World, creating more debt woes for the Emirates. Dubai has received $10 billion in financial aid from its richer neighbor, Abu Dhabi, as it seeks to meet its debt obligations. Meanwhile, as Woods wrestles with his highly publicized personal woes, some of his sponsors are keeping a distance from the disgraced golfer. Accenture ( ACN) is already terminating its six-year relationship with Woods while P&G's ( PG) Gillette brand has begun to limit his presence in its ads. AT&T ( T) is also assessing its ties with Woods. Nike ( NKE), Electronic Arts ( ERTS) and PepsiCo ( PEP) are apparently still enamored with the star athlete, as is the trading-card and memorabilia company Upper Deck. -- Reported by Andrea Tse in New York >>See our new stock quote page. Follow TheStreet.com on Twitter and become a fan on Facebook.