Amid Bleak LIV Golf Future, Jay Monahan’s PGA Tour Gets A Dollar Heavy ‘American Express’ Relief

With the uncertain future of the $3 billion merger, the PGA Tour has also said too many goodbyes in the past few days, whether it be the defection of Jon Rahm to LIV Golf or the slew of long-term partnerships coming to an end, which include the likes of the American company Honda and Farmers Insurance, to name a few.

Amidst all the sponsorship trouble, one recent piece of news has come as a breath of relief for the American circuit. As one of the key sponsors relayed and re-emphasized their support for the Tour.

PGA Tour gets a big financial break from ‘American Express’

On Friday, January 19, Josh Carpenter shared a post on X in which Stephen Squeri shared his thoughts on sponsoring the PGA Tour. “We never gave it a second thought. We’re committed to this tournament all the way through.” The AmEx CEO went on to add how the company intends to “continue to invest” and make the Tour “better.” He also spoke about the longevity of the Tour and stated, “The PGA Tour is never going away.

This is not the first time the CEO of American Express has shown its loyalty to the PGA Tour, as back in 2022, the Global Corporation chose to extend its contract with the PGA Tour as the title sponsor for the La Quinta event up until 2028. Squeri went on to express his thoughts on the extension and stated, “Giving back to the community while celebrating the passions of our customers is at the center of what we do at American Express.”

The PGA Tour Commissioner also had similar feelings about the matter and spoke about the positive impact of the partnership on the tour and the Coachella Valley alike. Despite the many sponsors bidding adieu to the Tour, it has also gone on to make some huge changes in the prize purses of the tournaments, which has ruffled some feathers.

PGA Tour and its recent sponsorship troubles

Sponsorship troubles have hit the PGA Tour due to uncertainties about its long-term finances. This has caused sponsors like Wells Fargo and Farmers Insurance to end their title sponsorship deals. Wells Fargo won’t renew its sponsorship for the Wells Fargo Championship after this year, 2024, while Farmers Insurance plans to end its sponsorship for the Farmers Insurance Open in 2026.

Read more: The American Express 2024 Tickets: How to Buy, Prices, Discount, and More

Additionally, the PGA Tour’s decision to increase event purses may lead to higher costs for tournaments, potentially impacting sponsor support and charitable donations from 2025 onwards. Despite these changes, new sponsors like Cognizant have stepped in, taking over the Palm Beach, Florida, tournament starting this year after Honda’s withdrawal.

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