PGA Tour extends FedEx Cup sponsorship for 10 years

- FedEx will continue to sponsor the PGA Tour's season-long points race with a 10-year extension of the current agreement, commissioner Jay Monahan announced Tuesday.

After an uncharacteristically slow start to the Japan Tour season the 42-year-old found form at his last start a fortnight ago and will be motivated to capture one of the more prestigious titles on the circuit this week.

The courier services company, which partnered the PGA Tour in 1985, started the season-long FedEx Cup competition in 2007 with the victor receiving $35 million in bonus money.

Monahan, who took over as commissioner for Tim Finchem in January, called it a "historic day" for the PGA Tour.

The play-offs culminate in a 30 player event at East Lake Golf Club in Atlanta for the Tour Championship in September.

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"As we went through this process, we've identified a number of ways for us to continue to enhance the magnitude and outcome of the FedEx Cup, and that's complicated", Monahan told reporters without revealing financial details of the new deal.

Defending FedEx Cup champion Rory McIlroy could see logic behind the change. Discussions between the parties have been ongoing for some time; Monahan late Monday afternoon called the extension "critical" for the Tour in terms of having a stabilized foundation as it moves into the future.

The Japan Tour is back after a break of one week with the staging of this week's rather strangely named Japan PGA Championship Nissin Cup Noodle Cup being played at the Kanehide Kise Country Club on the southern Japan island of Okinawa.

Patrick Fitzgerald, the senior vice president of integrated marketing for FedEx, said the company based in Memphis, Tennessee, only wants the FedEx Cup to end at a point of "maximum excitement for the tour". "So I'm confident that if the schedule changes, it will be in the best interest of golf and of the FedEx Cup". They are being grandfathered in and will be exempt from the clause, but their agent Chubby Chandler spoke to bigger concerns about the Tour setting a precedent for other Tour sponsors, like banks and office management firms.

"It's a very exciting time for the future of the PGA Tour based on these players who are performing every week right now, especially when you consider the worldwide representation that's there, and that's really helping to transform the popularity on a global scale of the game".

(Copyright © 2015. All Rights Reserved.)
 
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