The PGA Tour's annual stop in Ft. Worth next year likely will have a "handful of companies ... contribute as 'presenting sponsors'" as opposed to having one title sponsor, according to a front-page piece by Mac Engel of the FT. WORTH STAR-TELEGRAM. That includes Dean & DeLuca, which reportedly could end its title deal for the tournament held at Colonial Country Club. Sources said that the Tour gave the club a "hard deadline" of Nov. 1 to come up with the $11.5M needed to "make the 2018 event happen." However, the club said that it "wouldn't have the money by then." The Tour has "since backed off that deadline," and now the two and the city of Ft. Worth are "pooling their resources and leaning on their contacts to find a solution." Early indications are that the "name of the event ... will return to The Colonial." Engel reports the multiple presenting sponsors would only be a "one-year band-aid to buy time" for the Tour and Colonial to "find a single title sponsor." Ft. Worth-based American Airlines was "asked about taking over as the title sponsor," but declined. However, sources said that American Airlines CEO Doug Parker "indicated to club officials the company will help in some capacity." Other potential local assistance "could come from BNSF Railway." There are "likely no Tarrant County-based banks with the marketing budgets big enough to be viable contributors." Sources said that Dean & DeLuca reps have met with Tour officials to "potentially re-negotiate its relationship." Dean & DeLuca is two years "into a six-year commitment" that requires the company to spend about $11.5M per year on the PGA Tour event. The contract between the Tour and Dean & DeLuca "includes 'soft' language that includes no penalty or buyout of note should the title sponsor end the relationship prematurely" (FT. WORTH STAR-TELEGRAM, 10/26).
