SBD/April 29, 2013/Marketing and Sponsorship

Wells Fargo, PGA Tour Continue Sponsorship Talks Aimed At Keeping Event In Charlotte

Negotiations between Wells Fargo and the PGA Tour "are continuing with the goal of signing a five-year deal" that will keep the Wells Fargo Championship, which takes place this week, in Charlotte through '19, though no official agreement has been reached, according to Ron Green Jr. in a special to the CHARLOTTE OBSERVER. It is a “significant change from just a few years ago when it appeared” the tourney would end after '14. The event "appears to have a long future" at Quail Hollow Club. Wells Fargo Charlotte Regional President Kendall Alley said, "Everything feels good about where this tournament is headed." Alley said that the bank has “had conversations with the tour since 2009 but the discussions have intensified in recent months.” Green noted if Wells Fargo and the Tour “reach an agreement, a deal must be finalized between the sponsor, the host committee (Champions For Education) and the club.” Finally, an “alternative site for 2017 must be found because the PGA Championship will be played at Quail Hollow” that year. Originally, the course “agreed not to host an event in 2016 or 2017 to prepare the course for the PGA but the club asked to get 2016 back and the PGA of America accommodated the request.” Alley said, "It’s a three-legged stool. You have to have all three legs. There’s a heightened sense of awareness that we have to get this resolved. The biggest part is our conversation with the tour." Alley said that Wells Fargo will “host approximately 2,000 customers during tournament week.” Now that it “seems likely" the event will continue, "finding an alternate site for one year is a high priority.” Several sites are under consideration “including Charlotte Country Club and East Lake Golf Club in Atlanta but the most likely destination is Eagle Pointe Golf Club" in Wilmington, N.C. (CHARLOTTE OBSERVER, 4/28).
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