Financial services company Charles Schwab has renewed a long-running partnership with golf’s PGA Tour by striking a record 20-year deal.
Charles Schwab will continue to serve as the official investment firm of the PGA Tour and Champions Tour and as a sponsor of the season-long Charles Schwab Cup on the Champions Tour and the season-ending Charles Schwab Championship.
In conjunction with the extension, the Champions Tour will establish a new play-off system from the 2016 season.
Further details about the play-off system will be disclosed at a later date, according to tour commissioner Tim Finchem.
Charles Schwab has been a partner of the tour since 1997. In 2001, the Charles Schwab Cup was introduced as the Champions Tour’s first season-long points competition to identify the leading player on the tour. Two years after the Charles Schwab Cup was introduced, the company became a sponsor of the Charles Schwab Cup Championship.