Rolex Signs Multityear Extension With DIS Three FIFA Sponsors Decline To Renew Deals Seahawks Go On Trademark-Filing Spree GoPro Signs Sponsorship Deal With NHL Microsoft, Nationwide Announce Super Bowl Ads Coates Golf Sees Early Success Marketplace Roundup PBR Re-Ups With Top Sponsor Ford Ingersoll Rand Signs NASCAR Deal Univ. Of Cincinnati Switching To Under Armour
Upcoming Conferences and Events
SBD/February 22, 2012/Marketing and Sponsorship
PGA Tour, FedEx Extend Sponsorship Deal For FedExCup Through '17
Published February 22, 2012
IMPACT ON THE TOUR'S FUTURE: GOLFCHANNEL.com's Rex Hoggard reports the only potential "drastic change" as part of FedEx' new deal would "move the beginning of each season to the fall after the Tour Championship." The 16-member Player Advisory Council was "briefed on the new plan last week in Los Angeles," and Finchem earlier this season indicated that the "new off-calendar schedule could be in place by the end of 2013." While Finchem "said that the contract extension was not contingent on the new schedule alignment," FedEx Exec VP/Market Development Mike Glenn "did not dismiss the impact the new schedule could have on the overall strategy" (GOLFCHANNEL.com, 2/22). Golf Channel’s Gary Williams said, “What's going to be interesting is how many people will lose, and I'm talking specifically about the West Coast swing." Williams: "FedEx had to know, almost to the detail, what direction the PGA Tour is going in. ... What’s going to happen to these events, the Fall Series, which may start the meter on the New Year. FedEx has to know all these things to re-up their sponsorship. You cannot change the overall perimeters of what this system is without the people who are ponying up the money in order to do so." He added, "The renewal from FedEx is a big deal. ... It's great -- if you retain sponsorship as the economy tries to kind of crawl their way back to some level where people feel some sense of prosperity, let alone normalcy. ... I just want to know who's going to be affected in a negative way. The West Coast swing -- with all these events that may gain more relevancy, and I am talking about FedExCup-relevancy, going forward. What happens to Hawaii? What happens to some of these events in the state of California? The Waste Management? … These guys are playing so late into the year, and there’s so much money to be earned in the Far East these guys are shutting down and a lot of them are not saying hello to the PGA Tour until the month of February, that’s five weeks into the season” (“Morning Drive,” Golf Channel, 2/22).
HYUNDAI A NO GO: GOLFWEEK’s Miceli cited a source as saying that the PGA Tour’s “quest for an umbrella sponsor for the Nationwide Tour will continue after Hyundai declined a proposal.” It was “widely reported" several weeks ago that Hyundai was “close to signing a $100 million deal to have its name on the developmental tour.” But the source said of Hyundai, "They were considering it but never got to the point of more than kicking the tires.” The source said that Hyundai reps were “pitched the proposal” at the Tournament of Champions at Kapalua in early January and “took the next month to review it.” Ultimately, Hyundai officials “thought that sponsorship of the Nationwide Tour, estimated to cost $12 million to $14 million annually, was not a good marketing fit.” Golfer and former PGA Tour Players Advisory Council member Tom Pernice Jr. said that if an umbrella sponsor is not signed, the Tour “would fund the developmental tour in 2013 and beyond” (GOLFWEEK.com, 2/21).