The course will be named "Payne's Valley" in honor of the late Payne Stewart.
Speaking Tuesday at the unveiling of his design for a new course in Missouri, Woods sounded resigned to the uncertainty.
Woods also will design a par-3 course at the nearby Big Cedar Lodge, with a similar goal of getting families together to enjoy nature and the game of golf together.
As a designer, Woods has completed two courses: Bluejack National near Houston, Texas and Diamante's El Cardonal in Mexico.
Woods wants to build the course as a tribute and memorial for Stewart.
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"[The Masters] probably wouldn't have been the best place for Tiger to start the year out after this most recent setback, and I think we should probably look, maybe something just after The Players Championship", Begay said on "The Rich Eisen Show".
"Everyone knows I'm pretty dedicated to the things I care about, and this is one of them". The real announcement of course, a new golf course.
For those wondering why Tiger Woods has been rumored to be hanging out in Branson, Missouri, the wait is over. "The second shot, I stiffed it", said Woods.
The 18-time major victor was in Missouri for the announcement of the first public course designed by Woods' company TGR Design.
"The back is progressing", Wood said, when asked about his health.
Veteran Woods watchers, recalling his triple-dunk at last year's exhibition at Congressional, had butterflies, even if the 14-time major champion did not. It was really cool to go and play a country club because the greens were so nice and manicured and I had never seen anything like it. "So to design a public course is near and dear to my heart". We didn't have a whole lot of money and that's where I learned how to play.