Deutsche Bank recommits to PGA Tour event

DEUTSCHE BANK has extended its title sponsorship of the FedEx Cup playoff series event on the PGA Tour for a further four years beginning in 2013.

The tournament, which has been known as the Deutsche Bank Championship since its inception in 2003, will remain as such until at least 2016.

While news of the sponsorship renewal emerged last month, contracts were only officially signed this Wednesday, two days before this year’s event was due to begin.

Given the high profile nature of the tournament as a FedEx Cup playoff event and the lucrative value of the prize money purse ($8 million), Frontloaded values the agreement at the top end of PGA Tour title sponsorship deals, which should see Deutsche Bank paying close to $10 million per year.

The tournament clearly delivers good value to Deutsche Bank given the brand’s renewal pattern since 2003. In 2007 the company signed a four-year extension to take in the 2010 event before agreeing a further two-year renewal until 2012.

Further, since 2003 the Championship has raised over $20 million for its partner charities, including major beneficiary the Tiger Woods Foundation, ensuring sound CSR practices for the financial giant.

US technology company EMC will also continue as the local presenting sponsor of the event for the extended period.