Mitsubishi Electric renews tour sponsorships
Mitsubishi Electric, a PGA Tour official partner and a Champions Tour title sponsor, has renewed its deals for another four years.
The Tokyo-based company with offices throughout the U.S. probably is best known for rolling out the LED video boards — known as Diamond Vision — at PGA Tour events. Those boards, which debuted in 2007, enhanced the fan experience with more player, scoring and course information that included video for the first time.
In addition to owning status with the tour as the official large outdoor video display provider, Mitsubishi also has the heating and cooling category, as well as the official elevator/escalator category.
With those official partner deals come hospitality and entertainment at select PGA Tour events.
Financial terms were not released, but industry insiders said the annual spend on those official marketing partnerships and title sponsorship combined would run in the mid-seven figures. An announcement is expected this week.
On the Champions Tour, Mitsubishi Electric will be on the title of the season-opening event through 2015. The company has title sponsored that tournament on the big island of Hawaii since 2009. Tournament champions from the previous two seasons, as well as winners of senior majors over the past five years, are invited to the exclusive-field event.
Mitsubishi’s deal was negotiated by its sports marketing agency, MG Sports, which was acquired last week by CAA Sports.
In addition to those PGA Tour deals, Mitsubishi also sponsors Champions Tour golfer Fred Funk with logo placement on his bag and shirt collar.