ORLANDO, Fla. – During last week’s mandatory player meeting at the Honda Classic, PGA Tour commissioner Jay Monahan addressed several topics including a continued push by the circuit to secure long-term sponsorship agreements for tournaments.
On Wednesday, the Tour announced a five-year sponsorship extension for the Barbasol Championship that will keep the event in Kentucky through 2023.
The event is in its fifth year this season and will be played July 18-21 at Keene Trace Golf Club in Nicholasville, Ky., and opposite the Open Championship.
“A key focus has always been lengthening the average term of our sponsorships and I’m pleased with our progress,” Monahan told players last week. “We now have 10 sponsors with deal terms of 10 or more years and 16 sponsors with terms of seven or more years.”
Monahan also said that in 2014 the average deal term for a tournament sponsor was five years. It’s now six and a half years. An example of this came last month when Waste Management announced a contract renewal for the Phoenix Open through 2030.