Valero Energy Corp. today officially announced an "extension of its title sponsorship" of the PGA Tour's Texas Open, according to Richard Oliver of the SAN ANTONIO EXPRESS-NEWS. The extension will keep Valero's name attached to the event through '18. Golf San Antonio President & CEO Tony Piazzi said, "A six-year commitment is a significant commitment in an ever-changing environment. It's great to have that stability." Oliver notes Valero Manager of Corporate Communications Bill Day "declined Monday to release terms of the new deal, but title sponsorships reportedly can exceed $6 million annually." This year's tournament "will close out the current pact between Valero and the Texas Open." The PGA Tour, which "moved the $6.1 million event to the spring and into its FedEx Cup points chase in 2009, spearheaded discussions for a renewed deal with Valero." Since becoming title sponsor in '02, Valero has "joined Golf San Antonio in raising more than $45 million for charitable initiatives." The strength of Valero's relationship with the Texas Open and the "tournament's longstanding relationship with the tour -- San Antonio is the longest-running host city of any event -- may pay dividends" as the PGA Tour looks at the future (
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