Woods will not play at Palmer Invitational

(SportsNetwork.com) - Tiger Woods announced on his website Friday that he will not play at next week's Arnold Palmer Invitational, a tournament he has won eight times.

Woods, who last won the event at Bay Hill in 2013, has not played since withdrawing from the Farmers Insurance Open in early February. Woods has taken an indefinite leave from the PGA Tour while he works on improving his game.

"I spoke to Arnold today and told him that I will not play in his tournament this year. I'm sorry I won't be in Orlando next week, but I know it will be a really successful event," Woods said on his website. "I've put in a lot of time and work on my game and I'm making strides, but like I've said, I won't return to the PGA Tour until my game is tournament ready and I can compete at the highest level."

There has been much speculation as to whether or not Woods will be ready for the Masters on April 9. The four-time Masters champion addressed that on Friday as well.

"I hope to be ready for the Masters, and I will continue to work hard preparing for Augusta," said Woods. "I want to thank everyone again for their support."