Fellow American stars Dustin Johnson and Bubba Watson are already locked in along with US Presidents Cup captain Fred Couples, while Greg Norman, defending champion Geoff Ogilvy and Jason Day will spearhead a strong local contingent.

“It’s the best field we’ve ever assembled,” Pitt said.

“There’ll be other announcements in the future which is really exciting, it’s already a really deep field but there will be probably half a dozen (more top players) within the next four to six weeks.

“The other thing is there’s a number of players who would have a great chance to win around here, so Tiger may or may not go into this event as favourite depending on what he does over the next couple of months.

“There’s some more internationals (coming), I won’t speculate but there will be some top-20 players and some real drawcards within that too.”

Deputy New South Wales premier Andrew Stoner refused to reveal Woods’ price tag but predicted the 14-time major champion’s presence will help inject a huge amount into the state’s economy.

“The return to the tax payer is going to be massive, something like an additional 10 million US Dollars to our state and we’re paying nothing like what the Victorians have in past years to get Tiger,” Stoner boasted.

Meanwhile, Pitt confirmed Woods is contractually obliged to play in the Australian Open regardless of whether he qualifies for the President Cup to be played in Melbourne the following week.

He also laughed off suggestions the former world number one has lost his ability to draw a crowd following his well documented issues away from the course.

“I just think he’s demonstrated that he’s intensely popular and a massive drawcard in terms of golf, and we’ve seen that not just in Australia but around the world,” Pitt said.

“I mean, at the US Masters this year, the roars reverberating around that course as he made a charge on the front nine – I haven’t heard those sorts of roars before.

“It just demonstrates that there’s still a real hunger to see him play and to see him succeed, and I think the people of Sydney will really enjoy that opportunity.”

“I think it’s just an intriguing time in his career. Everyone’s waiting to see how he plays and what he does and whether it’s the Tiger of old or whether we’re looking at someone who’s not quite where he was in the past and is mortal.”

It is estimated up to 100,000 golf fans could flock to The Lakes layout to catch a glimpse of Woods, who last visited Sydney in 1996.