Jay Monahan’s PGA Tour Slapped With Devastating Wells Fargo Reports Amid Coverage Nightmares

A fitting end to the PGA Tour event? The Wells Fargo Championship is reportedly coming to an end this year owing to the event partner not renewing the deal after 2024. However, it appears that the tournament, back in 2023, smashed records in terms of the revenue being generated. Interestingly, it went ahead and topped the previous one, which came in 2019, by as much as 30%.

As per reports, the Champions for Education documented the event, which generated $24.1 million in revenue last year. This news comes as nothing short of a devastating blow to the Jay Monahan-led men’s circuit, which has been experiencing harsh criticism lately, all thanks to its bad coverage.

The Wells Fargo Championship rakes in record revenue

From the $24.1 million that was raked in last year, a whopping $20.5 million was collected through revenue from tickets, hospitality, and other such sources as part of the weeklong tournament. The rest, which numbers around $3.6 million, came from the title sponsorship fees paid to the men’s circuit by Wells Fargo and Co.

The numbers in 2023 showcase an increase of almost double revenue from that of 2022, during which the figures had reached around $14.5 million as opposed to the $17 million it carded in 2021. The reason? Well, the event last year was shifted to TPC Potomac at Avenel Farm in Washington, D.C. owing to the Presidents Cup. However, before that, it was played at Quail Hollow.

In 2024, the tournament’s non-profit owner is aiming for an even better year as Kendall Alley, the board’s chairman, declared, “We want to make this the biggest and best ever yet and we are solely focused on that.” Although, from 2025, the financial services company has decided to not renew its sponsorship deal, Quail Hollow Club, along with the non-profit Champions for Education, has divulged every intention to keep the tournament under a new sponsor if possible.

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Such a report does give a sting to the PGA Tour. Why, you ask? Well, a report of the tournament breaking records, just a little while after the title sponsors decide to leave would be a devastating blow for the men’s circuit. Moreover, to add insult to injury, such development comes at a time when the tour is blown up with criticism owing to its sub-par coverage of events.

Now, any would surely be looking forward to the final edition of the signature event set to kick off on the 6th of May. If everything goes right, then we can see yet another record-breaking revenue number, this time around as well!

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