This PGA Tour event is in discussion with new owners of resort course to extend contract
This PGA Tour event is in discussion with new owners of resort course to extend contract
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PGA National Resort & Spa hosts The Cognizant Classic golf tournament
Images from the last 50 years of championship golf play in Palm Beach Gardens, Florida.
New ownership aims to enhance the tournament experience and solidify its standing as a premier golf event in Palm Beach County.
PALM BEACH GARDENS, Fla. — Officials from the Cognizant Classic in the Palm Beaches are confident the event's relationship with PGA National will remain strong despite the resort's change in ownership.
London-based private equity firm Henderson Park recently purchased PGA National Resort & Spa. Although the release announcing the deal did not include a dollar figure, it was previously reported the resort, golf club and residential community could sell for an estimated $425 million.
With the deal, Henderson Park assumes the contract with the PGA Tour that has the Cognizant Classic at PGA National through 2028. Todd Fleming, executive director of the Cognizant Classic, said discussions already have begun on extending that deal.
"There's a mutual respect and admiration for each other and there's a mutual intensity and energy to make sure this continues for the foreseeable future," Fleming said. "2028 is a contract date but the relationship is going to be built even stronger over the next several years. We'll figure out where we can extend it."
The 2025 tournament is scheduled for Feb. 27-March 2.
PGA National was purchased in a joint venture with luxury boutique hotel brand Salamander Hotels and investment manager South Street Partners. According to Forbes, South Street is involved in several prominent golf communities, including the Kiawah Island Club and Palmetto Bluff and The Cliffs in South Carolina; King and Prince Beach & Golf Resort in St. Simons Island, Georgia; and the Naples Grande Beach Resort.
Fleming believes this can only enhance PGA National's golf footprint, which includes six courses. Among those is the Champion Course, where Cognizant is played.
"We're going to be able to have a scale to what is actually working from a fan standpoint, what's working from a resort standpoint and how to start to share ideas and steal ideas from each other to continue to make sure the event is one of the best on the Tour," Fleming said.
Joseph Fisher, Managing Director at PGA National Resort, said the relationship between the resort and Cognizant will remain strong.
"We have a great contract with the PGA Tour and the Cognizant Classic," Fisher said. "Our goal with the new ownership is to enhance the experience and support it and make it the best golf event we have in Palm Beach County."
Cognizant's contract with the Tour as the title sponsor of the event runs through 2030.
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