Valspar signs extension to continue as PGA Tour title sponsor through 2030
Valspar signs extension to continue as PGA Tour title sponsor through 2030
Valspar was first a title sponsor of the PGA Tour event at Innisbrook Resort's Copperhead Course in 2014, and that will partnership will continue through the end of the decade.
Valspar, a paint and coatings manufacturer, has extended its title sponsorship of the Valspar Championship through 2030, the PGA Tour announced Monday. The current deal was set to expire after this season's event, which is set for March 20-23, the final stop of the PGA Tour's Florida Swing.
Financial terms were not revealed, per Sports Business Journal's Josh Carpenter, though full-field events have been commanding between $13 million and $15 million per year.
'As the final event of the PGA Tour's Florida Swing, the Valspar Championship sits in a pivotal spot on the golf calendar as players and fans gear up for the heart of our FedEx Cup Season,' PGA Tour Commissioner Jay Monahan said in a release. 'Our friends at Valspar understand the importance this event carries in the Sunshine State and have embraced that role through unique activations including the Valspar Be Bright mural initiative and the Valspar Caddie Hat Program. The PGA Tour is proud to continue building upon these enhancements with Valspar as we take our relationship into the next decade.'
The deal is also significant as numerous PGA Tour title sponsors have been waiting to sign extensions as unification talks with Saudi Arabia's Public Investment Fund continue. Some sponsors have left in recent years, like Wells Fargo and Honda, while others, such as RBC that sponsors the RBC Heritage at Harbour Town Golf Links and the Canadian Open, have committed to only one-year deals as negotiations continue.
Last week, President Donald Trump met with commissioner Jay Monahan, Tiger Woods, Adam Scott and LIV Golf chairman Yasir Al-Rumayyan at the White House to discuss unification, talks the PGA Tour called a "constructive working session."
The PGA Tour's Florida Swing begins Thursday with the Cognizant Classic in the Palm Beaches at PGA National's Champion Course.
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