Report: Fresh details emerge of PGA Tour's failed negotiations with Honda
The PGA Tour is on the verge of announcing a new title sponsor for the Honda Classic under a new management company, according to a report.
For 42 years the PGA Tour played the Honda Classic as part of its Florida swing.
That was until it was confirmed in November 2022 the Japanese carmaker would no longer be the title sponsor.
Honda pulled the plug at a time when the PGA Tour's schedule was shifting significantly.
Since 1982, the tournament stop boasted some of the strongest fields, but the slide has been obvious as the years have gone by.
The tournament is now wedged in between Tiger Woods' Genesis Invitational at Riviera and the Arnold Palmer Invitational at Bay Hill.
Both tournaments have now been given elevated, designated, signature status for the 2023-2204 season.
Throw in the fact the Players has also returned to March and there's absolutely no easy answer.
One thing was obvious though, the Tour were unlikely to cut ties with PGA National given its affiliation with Jack Nicklaus. The Golden Bear's children's hospital is one of the tournament's beneficiaries.
The Honda Classic has been tentatively renamed as The Classic in The Palm Beaches.
Now, more details have emerged about Honda's negotiations with Tour officials in a recent report by Golfweek.
Per the publication, it is said the Tour tried to play "hardball" and wanted $15m per year from Honda to remain as the title sponsor. Honda were only willing to pay $13m.
"The Tour thought it had a replacement waiting in the wings that was willing to pay the 15 they were asking but they backed out," a tournament director told Adam Schupak.
Schupak's report now claims the tournament is on the verge of securing a new title sponsor under a new management company.
That company is expected to be Cognizant, which is a global partner of the Presidents Cup and title partner of the LPGA Tour's Founders Cup.
Additionally, the PGA Tour's Championship Management division will be taking over control of the event.
A Tour spokesperson told the publication: "The PGA Tour is in the final stages of securing a title sponsor and transitioning operators, where the longstanding commitment to charitable giving – working closely with Children's Health Care Charity, Inc., will remain a pillar of the event.
"We look forward to presenting the best version of the PGA Tour’s South Florida event in 2024."
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