The move comes one day after Northern Trust announced that it will move its sponsorship east next year, from Los Angeles to New Jersey, as The Barclays will soon become The Northern Trust. Hyundai, which has sponsored the Tournament of Champions in Hawaii since 2011, will move its sponsorship closer to its California-based headquarters.
"This is a perfect fit for Hyundai’s long-term vision and goals as a tournament sponsor,” said PGA Tour commissioner Tim Finchem in a release. “We are very excited to continue our relationship with Hyundai and look forward to helping with the transition to Riviera Country Club for 2017.”
The announcement also noted that the Tour remains "committed" to finding a new title sponsor for the winners-only event, which was previously sponsored by Korean-based SBS before Hyundai took over.
The lone PGA Tour event to be played this year without a title sponsor is the Colonial National Invitation Tournament, which lost sponsor Crowne Plaza after last year's event.