Wells Fargo last week inked a five-year extension for its event at Quail Hollow Club in CharlotteGETTY IMAGES
The PGA Tour's title-sponsorship state is "stronger than ever," as last week’s five-year extension by Wells Fargo "now leaves just one event, the BMW Championship, in the final year of a title sponsorship," according to Rex Hoggard of GOLFCHANNEL.com. The Honda Classic, the "longest-running continuous tournament sponsor on Tour, is up next year." PGA Tour Commissioner Jay Monahan said, “We have 10 agreements that are now 10 or more (years) and we have another six that are between seven and nine. We have a significant number of five- and six-year agreements." But those events and their sponsorship concerns are "largely outliers on the current schedule." There are 16 sponsors with terms of seven or more years. Monahan said, “Going back in time and look at different announcements through the years, three- and four-year agreements were more common. It’s been a big point of focus for us.” Just this year, Dell Technologies (four-year extension through '23) and Waste Management (a 10-year agreement) "extended their commitments." The 10-year deals are "particularly helpful for host organizations," as they help to "create continuity within the community." Even the fall portion of the Tour’s schedule, which now accounts for nearly a quarter of all events, has "mostly four- to 10-year agreements in place despite its position on the calendar going head-to-head with the NFL and college football and relatively weaker fields" (GOLFCHANNEL.com, 5/8).
