FedEx-tends PGA Tour Deal Through 2017
FedEx has agreed to a five-year extension of its umbrella sponsorship of the FedExCup through 2017. Deal terms were not announced, but the FedExCup, launched with a six-year deal in 2007, will continue to offer $35 million in total bonus money to players, including $10 million to the winner. The Memphis-based package delivery company was reportedly paying $44 million a year to sponsor the Cup between 2007 and 2013.
Beginning in 2013, the four-tournament PGA TOUR Playoffs for the FedExCup will be officially called the FedExCup Playoffs.
"Since its inception in 2007, the FedExCup has transformed the competitive landscape on the PGA TOUR and significantly benefitted all of our stakeholders," said PGA TOUR Commissioner Tim Finchem. "It makes every FedExCup event more meaningful, adding substantial value to our tournaments, title sponsors and television partners. Most importantly, the FedExCup offers our fans more ways to engage in our sport and get excited about our players week in and week out.
"We are thrilled that FedEx has had such a positive experience with the FedExCup and will continue its sponsorship through 2017," Finchem continued. "We look forward to working with FedEx to continue the growth and impact of the competition in these coming years."
"The FedExCup has been a very effective way for FedEx to engage in the community and reach our customers over the last five years," said T. Michael Glenn, executive vice president of Market Development at FedEx. "One of the most significant dividends of our FedExCup commitment has been that it allows us to support national and local charities, such as the St. Jude's Children's Hospital through the FedEx St. Jude Classic, in a very hands-on manner."
FedEx has built advertising and promotional campaigns around its sponsorship of the FedExCup as well as creative activation surrounding the Playoffs. As part of the extension, FedEx will continue to advertise in PGA TOUR telecasts and other media outlets and become further integrated into the PGA TOUR's digital and global endeavors. FedEx also plans to continue its business-building initiatives at tournaments in key markets.
FedEx became an Official Marketing Partner of the PGA Tour in 2002 and has sponsored the St. Jude Classic since 1986.