Wells Fargo banks on PGA Tour event to 2024
Wells Fargo, the US financial group, has signed a new five-year deal with the US PGA Tour to remain as the title sponsor of the Wells Fargo Championship.
The new contract runs through 2024, with the tournament continue to be played at Quail Hollow Club in Charlotte, North Carolina with the exception of 2021, when it will relocate to TPC Potomac in Washington, DC as the Presidents Cup will be played at Quail Hollow.
The Wells Fargo Championship debuted on the PGA Tour in 2003, although it was known as the Wachovia Championship until 2008 when Wells Fargo acquired the Wachovia bank.
While Wells Fargo provided sponsorship of the event in 2009 and 2010, the tournament was known in both years as the Quail Hollow Championship, as the company wanted to maintain a low profile during the tournament in the face of public criticism of banks at the time that were receiving federal assistance while sponsoring sporting events, particularly golf tournaments, during the economic crisis.
Wells Fargo eventually put its name to the championship in 2011.
Jay Monahan, commissioner of the PGA Tour, said: “Since 2003, the Wells Fargo Championship has established itself as a premier event in the sports-rich city of Charlotte, with a supportive fan base, outstanding host venue and highly engaged title sponsor. It also continues to impact the community through the charitable efforts of Champions for Education, for which Wells Fargo has played a major role.”
The 2018 Wells Fargo Championship, won by Australian Jason Day (pictured), generated more than $1.5 million for Charlotte-area charitable organisations, raising the tournament’s all-time total to $22 million.
Jamie Moldafsky, chief marketing officer of Wells Fargo, said: “The Wells Fargo Championship is one of the most engaging expressions of our brand, and we’re thrilled to continue to delight golf fans, Wells Fargo team members, PGA Tour players and the greater Charlotte community with our sponsorship of this event.”
This year's championship gets under way tomorrow.