The PGA Tour remain negotiations with the Public Investment Fund of Saudi Arabia, but away from the peace talks the circuit have banked a brand new event sponsor
The PGA Tour has announced a new £158 million ($200m) deal with Truist Bank, which will see them take the naming rights of the previously known Wells Fargo Championship.
The event based out of Quail Hollow Club in Charlotte will be known as the Truist Championship moving forward, after the banking firm and the PGA Tour reached a seven-year agreement. The tournament is one of the Tour’s ‘Signature Events’, with a £15.7 million ($20m) prize pot on offer.
“We are delighted to welcome Truist to the PGA Tour family as the new title sponsor of the Truist Championship,” PGA Tour commissioner Jay Monahan said in a statement when announcing the deal. “A Signature Event that has continued to grow in size and stature since its introduction to the golf calendar more than two decades ago.”