The PGA Tour announced a 20-year extension of its partnership with Charles Schwab & Co. Inc., the primary sponsor of the Champions Tour.
The agreement is the longest in PGA Tour history, and in addition to the season-ending Charles Schwab Cup Championship, it includes a playoff series for the Champions Tour that will start in 2016.
“Charles Schwab has been an exceptional partner of the PGA Tour and Champions Tour since 1997,” Commissioner Tim Finchem of the PGA Tour said. “In particular, Schwab has had a profound impact on the Champions Tour through its sponsorship of the Charles Schwab Cup and, more recently, the Charles Schwab Cup Championship.
“Today, we are thrilled to announce that this important relationship will continue another 20 years through this unprecedented agreement.”
Schwab will continue to be the official investment firm of the PGA and Champions tours, and will continue as the umbrella sponsor for the season-long Charles Schwab Cup and the Charles Schwab Cup Championship.
The season-long Charles Schwab Cup race was introduced in 2001 and the Charles Schwab Cup Championship was first played in 2003.
“So many of our clients and prospective clients are as passionate about golf as they are about investing, and so we’re very excited about having this expanded relationship with the PGA Tour,” Charles Schwab said.
“The parallels between investing and golf are numerous, especially the dedication and commitment they both require, and we look forward to continuing to serve the investment needs of tour players and golf fans everywhere.”
Finchem said details of the Champions Tour playoff format will be outlined at later date.
The Charles Schwab Cup Championship will be played this year on the Cochise Course at the Desert Mountain Club in Scottsdale, Ariz., on Nov. 5-8.
The tournament previously was held at Sonoma Golf Club from 2003-2009 and at TPC Harding Park in San Francisco in 2010, 2011 and 2013.
