GLOBAL CREDIT card company MasterCard has renewed its presenting sponsor partnership with PGA Tour event the Arnold Palmer Invitational for a further four years.
Based on title sponsorship guidelines for top PGA Tour events, Frontloaded values MasterCard’s contribution to the event at between $5m and $8m per year.
The tournament, currently being played in Orland, Florida, has been sponsored by MasterCard since 2004. The renewal will incorporate the 2013 to 2016 editions of the event.
MasterCard has an extensive international presence in golf, sponsoring the PGA Tour and The Open Championship among other high-profile properties, but the Arnold Palmer invitational remains a special sponsorship opportunity for the brand because of its links to the Arnold Palmer Hospital for Children.
“I've said many times, there are lots of sponsorship opportunities that MasterCard is presented with around the world,” said Chris McWilton, President, US Markets, MasterCard. “But this one, it's a very easy decision to make to continue the relationship with Mr. Palmer, Bay Hill [Golf Course] and the Tour – this event does great things for the hospital.”
MasterCard has donated over $1.8m since partnering with the tournament and has agreed to pledge an additional $200,000 to the foundation should one of its brand ambassadors, including Graeme McDowell, Ian Poulter, Brandt Snedeker and Camilo Villegas, finish in first place on Sunday.
By Luke Harman
Follow Luke on Twitter: @lukeharmanSBG