( CNN ) Tiger Woods wo n't be playing at Arnold Palmer 's charity tournament next week , but he still hopes to be lining up with the golf legend at the season 's opening major . While the 85-year-old Palmer has vowed to overcome a shoulder injury to fulfil his ceremonial tee-off role at the Masters , Woods is still trying to get his game in shape . The former world No . 1 has competed only twice this year , missing the cut at the Phoenix Open in early February before withdrawing in the first round of the Farmers Insurance Open due to his ongoing back problems . `` Tiger called me personally to let me know that he would n't be playing here at Bay Hill , '' Palmer said on his PGA Tour event 's website . `` He said that his game is not quite ready yet and that he was disappointed that he wo n't be able to play in the tournament , which has always meant a lot to him . I 'm sorry that he wo n't be playing . We 'll certainly miss him , but I understand and appreciated that he called me . '' Woods has won the Arnold Palmer Invitational a record eight times , the last of which came in 2013 . However , he has not added to his total of 14 major wins since 2008 , but hopes to be in contention at Augusta from April 9-12 . `` I 've put in a lot of time and work on my game and I 'm making strides , but like I 've said , I wo n't return to the PGA Tour until my game is tournament ready and I can compete at the highest level , '' the 39-year-old said on his website . `` I hope to be ready for the Masters , and I will continue to work hard preparing for Augusta . '' Palmer first hosted the Bay Hill tournament in 1979 and it took his name from 2007 . It raises money for two Florida hospitals named for the seven-time major winner and his late wife Winnie . `` I am so proud of what has been accomplished at the hospitals over the past 25 years . It is always a privilege to know that we are making a difference in the lives of families throughout the community , '' said Palmer after his medical center was named one of the best for children in the U.S. for 2014-15 . He hurt his shoulder in December after tripping on carpet when he was about to make a speech at a PGA Tour father/son event . World No . 1 Rory McIlroy will make his first appearance at Palmer 's March 19-22 tournament , which features a restricted field , while top-five players Bubba Watson , Henrik Stenson , Adam Scott and Jason Day will also take part . Like us on Facebook .
Arnold Palmer says he understands why Tiger Woods wo n't play at his tournament . Woods is struggling to be ready for next month 's Masters at Florida .