Korn Ferry In, Web.com Out As Title Sponsor Of Developmental PGA Tour
Korn Ferry is "taking over title sponsorship of the Web.com Tour as the global executive search and consulting agency puts it name on the PGA Tour’s developmental circuit now known as the Korn Ferry Tour," according to John Lombardo of SPORTS BUSINESS JOURNAL. Financial terms of the 10-year deal "were not disclosed but the name change is effective immediately, with the newly christened Korn Ferry Tour to debut" at the Wichita Open that begins tomorrow. Korn Ferry’s title deal also "includes an official marketing partnership with the PGA Tour." The search firm also "will assume sponsorship of the Korn Ferry Tour Championship presented by United Leasing & Finance in Evansville, Ind., the third and final event in the Korn Ferry Tour Finals." Web.com had been the title sponsor of the tour since '12, but the sponsorship "came back to market after the website development and marketing company was sold last year." This marks Korn Ferry's "first sports sponsorship deal." Wasserman represented Korn Ferry in the deal as the company "looks to expand its brand beyond C-suite executive placement services" (SPORTS BUSINESS JOURNAL, 6/17 issue).