The PGA Tour has signed a multiyear deal with Fortune magazine that makes the publication the official business knowledge sponsor of the PGA Tour and Champions Tour.
Financial terms of the deal were not available. The agreement, which runs through 2016, was expected to be formally announced this week.
The deal also marks the first business venture between Fortune and the PGA Tour.
“Their audience and our audience have a lot of overlap with business executives and business professionals,” said Rob Ohno, senior vice president of corporate marketing for the PGA Tour. “We think that’s a great match. They’re going to help us get some of our messaging out to that audience.”
The agreement comes on the heels of the launch of the revamped Fortune.com. As a member of the PGA Tour’s official marketing partner program, Fortune will have a platform to connect with other tour sponsors. In addition, the partnership offers Fortune the opportunity to work with other PGA Tour partners that are hoping to reach a decision-making audience.
“Fortune, based on our target audience, is a great fit with the PGA if you think about the fact that the folks who are reading Fortune are looking to accelerate their business success by reading Fortune to obtain knowledge so they can obviously elevate themselves in the business world,” said Eric Danetz, publisher of Fortune. “They also have personal passions, one of which we know is golf, so working with the PGA allows us to have a relationship in that vein. But also working with the PGA allows us to get closer to the brands that we work with on a daily basis, as well.”
Fortune will publish numerous PGA Tour-themed sections throughout the tenure of the deal, focusing on topics pertaining to golf and the interests of readers such as travel and the business of golf. The specific content has not been determined, but Fortune plans to run two sections this year and a minimum of five or six in 2015.
