Financial terms of the deal weren't disclosed Thursday but the agreement should allow the Royal Canadian Golf Association to break even on the event. It lost $3 million running this year's tournament without a title sponsor.
'We clearly were affected by the fact that this event needed help,' said Jim Little, RBC's marketing chief.
RCGA executive director Scott Simmons called it a 'landmark day for Canadian golf.'
Little worked with Bell Canada when it decided to give up title sponsorship in April 2006. He moved to RBC about seven months ago.
'I guess it is ironic,' Little said.
The 2008 tournament will be played at Glen Abbey in Oakville.