title sponsor – Syndication Server

That didn’t take long.

When the PGA Tour announced the fall portion of its schedule on the Monday of British Open week, it noted that Fortinet, the title sponsor of the Tour’s fall event at Silverado Resort in Napa, California, had opted out of its title sponsorship agreement after only three years of a six-year deal. The Tour initially announced the tournament would take place this year from Sept. 12-15, with the sponsorless name of the Napa Valley Golf Championship.

But just a few weeks later, the Tour has closed a deal with Procore Technologies, a leading global provider of management software for the construction industry, to assume the title of the kick-off to the FedEx Cup Fall. It will be named the Procore Championship.

The Tour event dates to 2007, with the event moving from CordeValle Golf Club in San Martin to Silverado Resort and Spa in Napa in 2014. All four rounds of the tournament will be televised on Golf Channel, featuring a 156-player field. Sahith Theegala is the defending champion. The California-based company is making its first foray into the professional golf space.

“We are thrilled to welcome Procore to the PGA Tour family as title sponsor of an event that offers a unique combination of PGA Tour golf and hospitality in a setting that only Napa Valley can offer,” said Chief Competitions Officer Tyler Dennis. “Sahith Theegala’s first PGA Tour win in Napa last year in front of dozens of friends and family was one of the great storylines of the season, and we are excited to have the Procore Championship lead off year two of the FedExCup Fall.”

“We are honored to partner with the PGA Tour as the title sponsor of the Procore Championship,” said Sarah Hodges, who is the chief marketing officer for Procore. “This partnership reflects our commitment to community and innovation, two values that are deeply ingrained in both construction and golf. We look forward to kicking off the 2024 FedExCup Fall Season with the Procore Championship and supporting the Napa Valley community through this prestigious event.”

Another longtime PGA Tour tournament sponsor seems to be on its way out.

Farmers Insurance, which has been the title sponsor of the San Diego event at Torrey Pines since 2010, will not renew its agreement with the PGA Tour after its current contract expires in 2026, Sports Business Journal reported Thursday.

Farmers is sending fewer executives to the Farmers Insurance Open later this month and returned a number of hotel rooms to the tour, along with plans for less activation, SBJ reported. Farmers Insurance also sponsors the APGA Tour event at Torrey Pines.

The decision comes at a time when it seems as if Farmers Insurance is scaling back its space in the golf world. Last week, Rickie Fowler confirmed to Golfweek he was no longer sponsored by the company.

“My contract was up, and I was told they weren’t looking to renew or extend,” Fowler said, noting the company has undergone a change in leadership at the top. “It was a good fit with them taking over at Torrey, a tournament I loved and was closest to where I grew up. I loved doing the fun commercials with them over the years, it was a great partnership, and it was their decision to scale back.”

Raul Vargas took over as CEO of Farmers a little more than a year ago. In August, Farmers laid off 11 percent of its workforce, about 2,400 employees.

It’s also the second notable company to not renew its contract with the PGA Tour. Wells Fargo will not renew its agreement after it expires this year to host the championship at Quail Hollow Club in Charlotte, North Carolina. SBJ reported the company wanted to remain a sponsor but didn’t want to pay the higher asking price.

Full-field events on the PGA Tour have been commanding between $13 million to $15 million per year from title sponsors.

RBC, which is the title sponsor for the Canadian Open and the Heritage at Hilton Head, a signature event, signed a one-year deal for 2024 instead of a long-term extension to get a feel of the changing golf landscape. Could this be the way many major companies are thinking with the tumultuousness in golf?

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