The PGA Tour and General Electric End 2010 On A High Note
The PGA Tour and General Electric will continue working together during the 2011 season. They bought their notable sponsorship frenzy, which took place during the last few months of 2010, to quite a productively end.
According to the latest reports, General Electric; the official tour partner of the PGA Tour, have been able to bring together 5 percent more revenue than the 2009 season. This increase has bought the year to a prolific end.
“The deal will probably be in place for the 2011 season too,” said Tom Wade, the tours chief marketer.
From the recent spell, along with GE being finalized, the PGA Tour held a number of deals with organizations such as FedEx, Cadillac, Sony and Hyundai for tournaments including St. Jude, the WGC event, Honolulu and the season opening event in Maui.
“Sponsorship wise, things have been good and from what I’ve seen, our sponsor preservation has been notable,” said the tour’s chief marketer.
Wade also said that he and the PGA have been able to do what corporate America hasn't been able to. The chief marketer explained that with corporate America storing humongous amounts of cash and not expending it, he has been doing the exact opposite with
his work during the past seventeen years.
Along with earlier stated deals, the Tour had also been successful in replacing their official airline, from Delta to United/Continental.
However, the PGA is still looking for title sponsors for the Heritage and the Bob Hope Classic for 2011. The events lost their backing from Verizon and Chrysler about two years ago. Nevertheless, the events are still funded and aren’t threatened at moment.
With 2011 approaching fast, the PGA Tour has plans to hold a replenishment meeting with FedEx. They are hoping to seal an extension agreement with FedEx, and also to begin TV negotiations with CBS and NBC during the year.
“Agreements like FedEx are always helpful but saying it must be done is a bit of a hyperbole,” Wade said.
The Tour is expected to name another sponsor this week and with marvellous deals and sponsorships making the recent spell successful, the tour’s chief marketer labelled the PGA Tour and General Electric as a compatible association. He hopes the coming year
will be more fruitful and active.
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