So far, four ex-mistresses have agreed to participate in the March 10 pageant, The Times of London reported Friday.
Prize money for the contest, which has categories such as swimsuit, personality and talent, will come from AshleyMadison.com, a dating service with the slogan "Life is Short, Have an Affair," the Orlando Sentinel reported.
Woods's infidelity came to light after a Thanksgiving night car accident outside his home in Isleworth, Fla., near Orlando. Woods kept out of the public eye until last week, when he issued an apology to his friends, family, business associates and fans.
Media reports have identified 13 women who say they had affairs with Woods.
Sterns said Woods's apology came off as insincere, The Times reported.
"(He) looked like he wanted to be anywhere on the planet but in that room," Stern said on his show. "It didn't seem like this was his idea, or anything he wanted to be a part of."
Stern, known for his over-the-top antics and commentary, said he asked Woods's wife, Elin, to be a judge, but The Times said she hasn't responded.
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