Cadillac is on the verge of becoming the new title sponsor of the World Golf Championship event at Doral, SportsBusiness Journal reports today.
General Motors is in the final stages of the negotiations and may step up in sponsorship of other PGA Tour events, according to a story by Michael Smith.
“GM, which declared bankruptcy in June 2009, was absent from the golf sponsorship scene this year as it restructured and repaid $6.7 billion in TARP funds to the U.S. Treasury,” Smith writes. “But an agreement with the PGA Tour that could span multiple tournaments would send a strong signal that the automaker is ready to spend again. Cadillac, the company’s luxury nameplate, has a history in golf that included endorsement deals with Fred Couples and several other golfers until the end of the 2008 season.”
CA was title sponsor of the Doral event but that deal expired after this year’s tournament. Other PGA Tour events looking for new title sponsors include The Heritage in Hilton Head, S.C., Bob Hope Classic in La Quinta, Calif., the Reno-Tahoe Open and the St. Jude Classic in Memphis.
'The GM brand most synonymous with golf used to be Buick,' Smith wrote, 'which was the Tour's official vehicle from 1984-2009 and title sponsor of as many as four tournaments in a season. Buick also had a long-running endorsement deal with Tiger Woods through last year, but with that brand looking to market to a younger audience, industry sources say, Cadillac is now considered the better fit for the PGA Tour.'