Archive for April 23rd, 2010
Sponsoring a PGA Tour event is no easy task. First off, there’s the money involved in running the event, usually upwards of $5-plus millions dollars just to have your name plastered all over the course and on television. Secondly, you’ve got to find a way to make you tournament worthwhile for not only the fans that show up, but the tour players as well. While running an event with Tiger Woods in the field tends to make things easier, there’s no doubting that there’s a unique formula to making the event profitable for all parties involved.
The economic downturn of the past couple of years really changed the sponsorship landscape. As of today, the tour has the arduous task of helping nine tournaments find sponsors for the 2011 season. That, in and of itself, is a monumental task.
But something that makes the task even more difficult is the high-wire act that current potential sponsors are having to maneuver. Northern Trust set the stage for all future PGA Tour tournament sponsors when they came under fire for spending money to run hospitality events at the Los Angeles-based event just last year.
The intense scrutiny has put a lot current tournament sponsors on edge. Wells Fargo is one of those sponsors that runs a high-profile tournament (Quail Hollow Championship), yet refuses to make their sponsorship known for fear of getting ripped by the national media. Read the rest of this entry »