Woods is an eight-time champion of this event at Bay Hill, but he won't get a crack at a ninth victory this time around.
"Unfortunately due to a neck strain that I've had for a few weeks, I'm forced to withdraw from the API".
"I saw him in Mexico getting treatment before and after he played; he did have some tape on his upper back". He also noted that his back is fine and that he hopes to play in The Players Championship next week.
"I'd like to send my regrets to the Palmer family and the Orlando fans", Woods posted.
His three-putt at the next, where he missed a five-footer, was not quite as dramatic but hardly less disappointing for one of the greatest talents to have played the game.
Woods added he hoped to be fit for The Players Championship at TPC Sawgrass from March 14-17 as he builds towards next month's Masters.
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This withdrawal is unexpected and the first injury blip we've seen from Woods since he returned to regularly playing the PGA Tour at the beginning of 2018.
Mitchell finished nine under - one shot ahead of Brooks Koepka and Rickie Fowler - at PGA National in Florida.
In his only other starts this year, Woods finished in a share of 20th place at the Farmers Insurance Open in late January followed by a T15 at the Genesis Open in mid-February. Since then, Woods has been among the stars who promised to keep supporting the tournament in honor of Palmer.
Woods proved he still has it previous year at Bay Hill - as a player and a drawing card.
Woods is expected by many to compete for majors this year. He did make sure to note that his injury is not considered long-term.