SBS Int'l Signs 10-Year Deal To Title PGA Tour's Season Opener
By Jon Show, Staff Writer, SportsBusiness Journal
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SBS Int'l To Takeover Title Sponsorship
Of PGA Tour's Season-Opening Tournament |
The PGA Tour this morning announced a new 10-year deal with Korea-based media company SBS Int’l to title sponsor the season-opening event in Hawaii from '10-19, marking the first time the tour has sold a title sponsorship to one of its TV partners. The tour also announced SBS, which held the PGA Tour’s exclusive broadcast rights in Korea since the early ’90s, extended that deal an additional seven years through '19. Financial terms of the sponsorship and rights extension could not be determined. SBS replaces the previous title sponsor, Mercedes-Benz, a year before its contract was scheduled to expire. The PGA Tour’s season-opening tournament of champions has struggled in recent years to attract crowds and television ratings, part of which led to the decision by Mercedes-Benz not to return. The automaker, which has added sponsorships with Augusta National and the PGA of America in the last two years, agreed to forgo the final year of its title sponsorship so SBS could title the '10 event. Mercedes-Benz and PGA Tour officials had examined moving the tournament to other courses in Hawaii, but the tour said it intends to keep the tournament at Kapalua next year and beyond. SBS is in its final year title sponsoring the season-opening LPGA event in Hawaii and televising the LPGA in Korea. SBS was dropped by the LPGA in exchange for a more lucrative tournament sponsorship and Korean TV deal with J Golf.
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