Quicken Loans takes naming rights to Woods’ PGA Tour event

US retail mortgage lender Quicken Loans has agreed a multi-year deal to become the new title sponsor of the PGA Tour golf tournament formerly known as the AT&T National, along with becoming an official partner of the Tour itself.

The agreement struck with the Tour and tournament host organisation the Tiger Woods Foundation commences from this year’s Quicken Loans National, which will be held from June 23-29 at Congressional Country Club in Bethesda, Maryland. The tournament, now in its eighth year, offers a $6.5m (€4.7m) purse and was won last year by American Bill Haas.

In addition to the title sponsorship, Quicken Loans will join the PGA Tour’s official marketing partner program and receive the exclusive designation as ‘Official Mortgage Sponsor of the PGA Tour and Champions Tour.’

Quicken Loans replaces telecommunications company AT&T, which has sponsored the tournament since its inception in 2007. AT&T’s sponsorship was due to run through 2014, but the company has agreed to become a founding sponsor of the tournament, allowing Quicken Loans to assume title sponsorship this year.

The Quicken Loans National will continue to raise funds and awareness for the college-access programs of the Tiger Woods Foundation. The tournament will also continue to serve as a leader on the PGA Tour for recognition and support of US military personnel during tournament week.