LPGA Wants $4M Annually To Sponsor Eight-Tournament Series
The LPGA is "putting a $4[M] annual price tag on an umbrella sponsorship for the eight-tournament series it hopes to get on network television in 2010," according to Jon Show of SPORTSBUSINESS JOURNAL. Tour officials "made a presentation to a small number of tournament owners and title sponsors who recently attended a sponsor summit at the Evian Masters in Paris." Sources "characterized the umbrella sponsorship as a media commitment that would be used to write down the television expenses of the tournaments participating in the series." The LPGA is "shopping the series to television networks as an aggregated time buy," and also is "selling three supporting sponsorships of the series for around $1[M] a year, but it was unclear where that money would be allocated." Tour officials did not discuss what other assets would be included with the umbrella sponsorship "aside from some form of naming or presenting rights." Standard inventory such as "on-site activation and hospitality are expected to be part of any deal" (SPORTSBUSINESS JOURNAL, 8/4 issue).
FIELDS OF OLD: Japan-based Fields Corporation said Monday that it will not renew its sponsorship of the LPGA Fields Open at Ko Olina Resort in Hawaii, and Ko Olina GM & Dir of Golf Greg Nichols said that it is "probably unlikely a new title sponsor could be found in time" for '09. Nichols: "A tournament at this late date is unlikely. The timeline is not sufficient to bring in a new sponsor for 2009." The tournament has been the second event on the LPGA Tour since '06 (HONOLULU ADVERTISER, 8/5).
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