The European Tour has announced the rebranding of its over-50s competition to the Legends Tour as it heralds a new era for senior golf.
Revealed on the European Tour's website, the new joint venture between the European Tour and Ryan Howsam, founder and group chairman of travel insurance provider Staysure, is aiming to generate three-to-five times the revenue raised by the previous StaySure Tour for golfers aged 50 and over.
The revolutionary new ownership structure is the first time in golf that an individual will have a controlling stake and leadership role in a major Tour.
Entrepreneur Howsam will work alongside the Head of the Legends Tour, Mark Aspland, and the current Tour staff with a clear focus on driving greater consumer engagement, particularly among the affluent European 50+ year old mature market of which Staysure has a growing database of over 5.5 million, with the aim of releasing as yet untapped commercial potential of the Legends Tour.
As part of this strategy, the Staysure Tour will be renamed the Legends Tour and it will put some of golf’s iconic names at the forefront of the brand.
The Legends Tour was launched at the European Tour’s headquarters at Wentworth Club, with former Ryder Cup Captains Darren Clarke, Mark James, Tom Lehman, Paul McGinley, Colin Montgomerie and Ian Woosnam along with 2005 U.S. Open Champion Michael Campbell and 1999 Open Champion Paul Lawrie named as the Tour’s first official ambassadors who will play a key role in outlining the Tour’s vision in the months to come.
“Ryan [Howsam] has an unwavering passion for our game and for the Legends Tour and he is an incredibly successful entrepreneur who brings a wealth of business acumen," said Keith Pelley, European Tour chief executive.
“Having Ryan involved now in all aspects of the Legends Tour is a terrific addition for us and it is great for our sport. I am hugely energised by this new joint venture and we look forward to working together with Ryan and his partners to continue to grow the Legends Tour.”
Ryan Howsam said: “This unique structure in the world of professional golf will spearhead a new vision for the Legends Tour, putting the Ryder Cup Captains and players at the forefront of the brand, engaging the mature affluent European market in a way that will drive bigger sponsors and partners.
“We will continue to build the alliance format which I believe offers the best amateur experience in golf, whilst we will commercialise across other golf markets including holidays and equipment.
“Staysure has been involved with the tour since 2017 as a title sponsor, and I believe the untapped commercial potential that the Legends Tour has to offer is unlimited.