PGA Tour suffers another huge blow as major sponsor withdraws

Hot on the heels of Jon Rahm’s decision to join LIV Golf, the PGA Tour has suffered a fresh blow with confirmation that one of its long-standing sponsors is walking away.

Wells Fargo announced earlier today that it will not be renewing its title sponsorship of the Wells Fargo Championship, one of eight ‘signature events’ on the tour.

The San Francisco-based bank has sponsored the North Carolina-based event since it began 20 years ago.

The change is due to take effect from 2025, meaning that next year’s event – scheduled to take place at Quail Hollow Golf Club from May 9-12 – could well be the last.

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In a statement, a spokesperson said: “Wells Fargo is not renewing the Wells Fargo Championship as a signature event in 2025 and beyond.

“To drive efficiency and support our business long-term, we regularly review and adjust our overall sponsorship strategy.”

According to the Charlotte Business Journal, uncertainty over the PGA Tour’s long-term financial structure contributed to the Wells Fargo’s decision to sever ties, whilst the Sports Business Journal is reporting that the bank baulked at being asked to pay $25million for the title sponsorship.

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The news is bound to cast further doubt over the future of PGA Tour commissioner Jay Monahan, who has come under intense scrutiny this year over his handling of the circuit’s existential battle with LIV Golf and, since June, its attempts to merge commercial operations with the Saudi-funded circuit.

Monahan also lost world No.3 Rahm to LIV Golf last night after weeks of intense speculation and, earlier this week, learned of changes to the rules that will seeing shorter hitting distances on the tour coming in 2028.

Wells Fargo is the second big-name sponsor to sever ties with the PGA Tour in little over a year.

In November 2022, Japanese car manufacturer Honda announced that it was ending its 40-year sponsorship of the Honda Classic.

Michael McEwan is the Deputy Editor of bunkered and has been part of the team since 2004. In that time, he has interviewed almost every major figure within the sport, from Jack Nicklaus, to Rory McIlroy, to Donald Trump. The host of the multi award-winning bunkered Podcast and a member of Balfron Golfing Society, Michael is the author of three books and is the 2023 PPA Scotland 'Writer of the Year' and 'Columnist of the Year'. Dislikes white belts, yellow balls and iron headcovers. Likes being drawn out of the media ballot to play Augusta National.

Deputy Editor