PGA Tour confirms new title sponsor and new contract for $20m signature event
PGA Tour confirms Truist as the new title sponsor of its signature event at famed Quail Hollow Club in Charlotte.
The PGA Tour, Quail Hollow Club and Truist Financial Corporation have today announced a new seven-year agreement that will see Truist become the title sponsor of the PGA Tour's signature event in Charlotte.
At the end of 2023, Wells Fargo dropped its 14-year association with the PGA Tour's annual event at Quail Hollow Club.
But Trust Financial Corporations have now stepped in and put pen to paper on a seven-year deal with the PGA Tour.
The tournament will be renamed the Truist Championship, and it will remain a signature event on the PGA Tour schedule through to 2031.
Signature events carry inflated prize purses on the PGA Tour.
In 2024, the Wells Fargo Championship had a prize purse of $20m.
Rory McIlroy won a record fourth title at Quail Hollow in May this season.
He saw off Xander Schauffele by five shots.
McIlroy collected a first prize of $3.6m.
Quail Hollow Club will remain the primary venue for the Truist Championship with the exception of next year when it will be staged from 8-11 May on The Philadelphia Cricket Club's Wissahickon Course.
That's because Quail Hollow Club is hosting the US PGA for a second time from 15-18 May.
"We are honored to be the title sponsor of the PGA Tour's Charlotte-based Signature Event and thrilled that Philadelphia and Charlotte, two vibrant growth markets for Truist, will be featured on the PGA Tour," said Truist Chairman and CEO Bill Rogers.
"We look forward to partnering with the PGA Tour to elevate this wonderful championship event and Truist's deep community impact, and to further fulfill our purpose to inspire and build better lives and communities."
PGA Tour Commissioner Jay Monahan said: "We are delighted to welcome Truist to the PGA Tour family as the new title sponsor of the Truist Championship, a Signature Event that has continued to grow in size and stature since its introduction to the golf calendar more than two decades ago.
"Starting in year one at The Philadelphia Cricket Club followed by an extended run at the Quail Hollow Club, the Truist Championship will be a best-in-class experience for fans thanks to the support of a hometown title sponsor that holds a vested interest in positively impacting its local communities."
