Major champ worried more sponsors will quit PGA Tour

Long-standing tournament sponsors Farmers Insurance and Wells Fargo will not renew their deal with the PGA Tour, and they might not be alone.

With a ‘broken’ business model and purse sizes that are ‘not sustainable’, concerns are growing over the future of other PGA Tour events.

More worryingly, it comes from U.S. Open champion Webb Simpson, who is currently on the PGA Tour’s board of directors.

The 37-year-old, a seven-time winner on the circuit, is one of six player directors and fears that a ‘major shift’ is required to prevent more sponsors from walking out.

“The amount of money we’re playing for is astonishing considering how many people watch our sport,” Simpson told Golfweek.

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“Without SSG, where we were, it’s not sustainable to keep playing for $450 million… without some kind of subtle to major shift in how we’re thinking about everything.

“The model is broken at the purse sizes we’ve been going the last year. And the sponsors are starting to feel it.

“Sponsors are pulling out. Wells Fargo, Farmers, there will probably be a couple more this year I would think, maybe one or two more.

“I hope not, but that’s a lot of money to put up for a week, considering the price of stadiums and stadium sponsorships and all kinds of stuff.

“I’m close with the Wells Fargo people. They’ve been extremely happy up until having to continue to increase their purse, and they just didn’t feel like it was a good fit for them.

“So, the product is really good. We’ve just got to sell it at the right price. We’ve got to be careful there.”

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The consistent rise in prize money has come with the growth of LIV Golf, as the PGA Tour fights to compete with the Saudi-backed circuit.

Eight ‘Signature Events’ have been introduced to the schedule this year, which boast a total prize purse of $20 million.

However, with investment from the Strategic Sports Group, hope is that sponsors will be able to navigate the obstacles in keeping them involved.

Simpson added: “I think the sponsors will be very happy with SSG and the group of business guys involved.

“I think it will make sponsors feel a little more comfortable with the future of the Tour and us asking for bigger purses.”

John Turnbull A graduate of the University of Stirling, John joined the bunkered team in 2023 as a Content Producer, with a responsibility for covering all breaking news, tour news, grassroots content and much more besides. A keen golfer, he plays the majority of his golf at Falkirk Golf Club. Top of his 'bucket list' is a round of Pebble Beach... ideally in the company of Gareth Bale.