UPDATE: Woods has announced he will not be participating in the Masters, which marks the second time in three years he'll miss the event.

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Tiger Woods has yet to make his return to the PGA Tour, but many are wondering if he'll be making the long awaited appearance at the Masters in just over a week. He has yet to indicate anything of the sort, but he found out Wednesday that his eligibility for the World Golf Hall of Fame has been delayed.

Woods, 40, will now have to wait until he's 50 years old to be enshrined. It was assumed that the 14-time major winner would be inducted shortly after he was eligible, which would have been this year since he turned 40 in December.

Here's the official press release from the PGA Tour:

"Effective immediately, candidates must be at least 50 years of age at the start of the year in which selections are made, replacing the previous age requirement of 40. The exception would be if a player was at least five years removed from being an active participant on his or her respective tour.

"We work very closely with our Hall of Fame Members to ensure all aspects of the Induction criteria are shrewd and judicious," added Jack Peter, President of the World Golf Hall of Fame & Museum. "As players continue to elevate their fitness levels and continue to play at a high level for a longer period of time, moving the age requirement to 50 ensures that we are able to celebrate their careers at the proper time."

This isn't bad news for Woods because he'll be elected into the HOF no matter what, but the PGA Tour's reform directly affects him this year.

Speaking of being delayed, golf fans everywhere are waiting for Woods to make an announcement regarding his status for the Masters. If he opts to sit this one out, it will be the second time in three years that he has failed to compete in the event (he missed 2014 due to back surgery). That was the first time that he missed the event since debuting in 1995.

Woods announced at the beginning of the month that he started chipping and putting as part of his rehab process after undergoing two back surgeries in September and October. He posted a picture of him swinging a club as well, which was the first time anyone has seen him do so in six months.

He vowed to not return until he felt like he was 100 percent healthy, considering he's made multiple premature comebacks in the past that have worsened his health, but many are assuming that a Masters appearance is possible because he has yet to officially weigh in on the matter.

The veteran hasn't participated on the Tour since last August, and a return to golf may not even be in the cards if he feels his health isn't where it should be. Still, that's not going to stop golf fans from hoping and waiting.