SBD/June 16, 2011/Marketing and Sponsorship

RBC Agrees To Five-Year Deal To Title Sponsor PGA Tour Event At Hilton Head

RBC has struck a five-year deal with the PGA Tour to be the title sponsor of The Heritage in Hilton Head, S.C. The tournament was played without a title sponsor this year after Verizon chose not to renew its entitlement. An announcement on RBC's new deal is expected this afternoon. RBC and the Tour have been in talks since the event was held in April, but could not come to terms until this week. Industry sources say negotiations took a turn for the better when Boeing agreed to come on board as a secondary sponsor for the event. It is uncertain whether the Tour plans to announce Boeing's presence today, but the aircraft maker has agreed to a prominent role (hospitality, pro-am spots) that some industry sources have compared to a presenting sponsor, although Boeing will not have its name on the tournament. PGA Tour entitlements typically go for $6-8M a year. Boeing and the PGA Tour already have a relationship through Boeing's entitlement of a Champions Tour event in Snoqualmie, Wash. RBC also title sponsors the PGA Tour's Canadian Open in July and has endorsement deals with several golfers, including Ernie Els, Jim Furyk, Luke Donald and Matt Kuchar. The Heritage has been on the PGA Tour's schedule since '69 and Verizon had sponsored it from '06-10.
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