Ponte Vedra Beach, FL (SportsNetwork.com) – The PGA Tour announced a 20-year
extension of its partnership with Charles Schwab & Co., Inc. on Tuesday.
The agreement is the longest the PGA Tour has ever entered into, and will
create a playoff for the Champions Tour. The playoff will start in 2016.
“Charles Schwab has been an exceptional partner of the PGA Tour and Champions
Tour since 1997,” said PGA Tour commissioner Tim Finchem. “In particular,
Schwab has had a profound impact on the Champions Tour through its sponsorship
of the Charles Schwab Cup and, more recently, the Charles Schwab Cup
Championship.
“Today, we are thrilled to announce that this important relationship will
continue another 20 years through this unprecedented agreement.”
Schwab will continue to be the official investment firm of the PGA and
Champions Tours, while the company will also continue as the umbrella sponsor
for the season-long Charles Schwab Cup and will still sponsor the season-
ending Charles Schwab Cup Championship.
“So many of our clients and prospective clients are as passionate about golf
as they are about investing, and so we’re very excited about having this
expanded relationship with the PGA Tour,” said Charles Schwab. “The parallels
between investing and golf are numerous, especially the dedication and
commitment they both require, and we look forward to continuing to serve the
investment needs of tour players and golf fans everywhere.”
Finchem said the details of the new Champions Tour playoff format will be
outlined at later date. The Charles Schwab Cup was introduced in 2001 and the
Charles Schwab Cup Championship was added in 2003.
