It’s a deluge of bad news that the PGA Tour must face at the end of the year. After the earthquake caused by the departure of Jon Rahm from the LIV, it is the turn of a historic sponsor to announce the end of its partnership.
High alert at Ponte Vedra Beach at PGA Tour headquarters!
While Jon Rahm announced that he had signed up with the rival circuit, the investment bank Wells Fargowhich sponsors a tournament of PGA Tour since 2011 in Charlotte, North Carolina, indicated that she will end her contract the day after the 2024 edition of the Wells Fargo Championship scheduled for May 9-12 at Quail Hollow.
It was the increase in prices demanded by the American circuit which dissuaded the company from continuing its partnership.
At war with the LIV and its public investment fund (PIF), in a fight that appears unequal, the PGA Tour is indeed trying by all means to retain its players by asking its partners to support a significant financial effort.
Rising costs
So in 2024 the Wells Fargo Championhip will be one of the 8 Signature Events on the calendar*. Tournaments worth up to $20 million with no cut and reserved for an elite.
Jay Monahan the PGA Tour commissioner pushed hard for sponsors to cover a significant portion of these large prize pools, but also of the costs generated by the new services made available to players: Fitness Center, improved toilets and catering areas.
Unfortunately for companies like Wells Fargo this is not possible and the commitment will therefore end in a few months.
Last year, Honda ended its relationship with the PGA Tour after 4 decades! The Japanese manufacturer was one of the oldest partners of the PGA Tour and the 2024 edition “The Classic at The Palm Beach Gardens” has still not found a title sponsor.
* Pour mémoire les 8 Signature Events 2024 sont : The Sentry Tournament of Champions, AT&T Pebble Beach Pro-Am, The Genesis Invitational, Arnold Palmer Invitational, The Wells Fargo Championship, The Memorial Tournament et The Travelers Championship.
©Photo Rory McIlroy au Wells Fargo Championship en 2023 (Mike Ehrmann / Getty Images via AFP)
2023-12-09 18:47:11
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