PGA Tour finds title sponsor

Tuesday, May 12, 2009 -- Since the economic meltdown, the PGA tour added its first few title sponsors and shored up its season opener Kapalua by announcing a 10 year deal with Korea-based SBS International. An exclusive agreement was made, and the Seoul Broadcasting System extended it by seven years just to show the PGA Tour events in Korea.

The deal will run until 2019.

This year’s tour had a great mix of economy. Phoenix, Milwaukee and Florida were a few of the title sponsors that agreed to extend their contract for four other tournaments through 2014.

SBS, which is relying greatly on the automobile and financing industry over the last decade, is the only media company that was able to sponsor the PGA tour.

Since 1999, Mercedes-Benz had been the title sponsor at Kapalua, but made it clear that they will not renew its contract after 2010 after it signed deals to be official car of the Master, PGA Championship and The Northern Trust Open.

Finchem’s deal slao expires next year, although it has been noted that 60 percent of the players at the Kapalua were staying over for Honolulu.

Finchem said "This will help the climate with Sony,"

Although Finchem said that he was expecting that the tournament will be played at Kapalua for the duration of the SBS contract, still the tours deal with Kapalua will be expiring next year.