Despite the latest reports of Tiger Woods' alleged multiple affairs, his No. 1 sponsor, Nike, is still sticking by the golfer's side.

"Tiger and his family have Nike's full support," the company said in a statement on Monday. "We respect Tiger's request for privacy, and our thoughts are with Tiger and his family at this time."

A Nike rep tells Life & Style that the company is still standing by Tiger, even after his admission earlier today on his Web site of not being "true to my values." "Nike supports Tiger and his family," the rep said. "Our relationship remains unchanged."

In 2006, Tiger struck a 5-year deal worth an estimated $100 million with Nike. Lucrative deals with Gatorade and Gillette (companies that have also issued statements of support) and other sponsors have helped Tiger become the $1 billion athlete he is today.

Photo Credit: Retna