SONOMA, CA and PONTE VEDRA BEACH, FL — Charles Schwab & Co. and the PGA TOUR today announced that the organizations have agreed in principle to extend its comprehensive marketing partnership with the PGA TOUR as the "Official Investment Firm of the PGA TOUR and the Champions Tour" and umbrella sponsorship of the Champions Tour’s Charles Schwab Cup program.
Charles Schwab has had a long term marketing and sponsorship relationship with the PGA TOUR and Champions Tour, dating back to 1997.
"The PGA TOUR is extremely pleased to have reached an agreement in principle for Charles Schwab to extend this long-standing relationship," said PGA TOUR Commissioner Tim Finchem. "Charles Schwab is an outstanding partner, and TOUR players, tournaments and fans have benefited greatly from our relationship with Schwab over the past 10 years. We’re confident the continuation of this partnership will provide significant value to both Charles Schwab and the PGA TOUR for many years to come."
"We’ve had great success with our PGA TOUR partnership over 10 years, including seven with the Champions Tour, and we are looking forward to an expanded relationship between our two organizations," said Charles R. Schwab, Chairman and CEO of The Charles Schwab Corporation. He added, "Because our clients and employees have a great affinity for the sport of golf, a game they both watch and play, our partnership with the PGA TOUR helps us to meet many of our marketing goals, as well as an opportunity to increase our philanthropic activities, something our employees value."
As the Official Investment Firm of the PGA TOUR and Champions Tour, Charles Schwab has agreed in principle to extend it’s year-long, multifaceted marketing program which includes relationship-building programs at multiple PGA TOUR and Champions Tour events and TPCs and advertising on PGATOUR.com and with the TOUR’s broadcast partners. Schwab also provides investment-related services to TOUR players and staff.
Beyond the marketing partnership, the Charles Schwab Corporation will also be title sponsor of the Charles Schwab Cup, the season-long points competition that recognizes the leading player on the Champions Tour, which is a Tour for the world’s leading players age 50 and over. The 2007 competition culminates at this week’s Charles Schwab Cup Championship at the Sonoma Golf Club in Sonoma, CA. The Charles Schwab Cup offers $2.1 million in prize money to its five leading finishers at season’s end with $1 million awarded to the champion. Previous winners were Allen Doyle (2001), Hale Irwin (2002, 2004), Tom Watson (2003, 2005) and Jay Haas was the 2006 champion by a mere 20 points over Loren Roberts when the race for the Trophy came down to the final putt.
"I’m glad we continue to ‘Talk to Chuck,’" said Rick George, President of the Champions Tour. "The Charles Schwab Cup has had a significant impact on the Champions Tour in encouraging our players to add events to their schedule, and provides our fans a year-long focus to identify the Tour’s leading player. It’s not only our players who benefit, but area charities are also major winners. Since relocating to Sonoma in 2003, the Charles Schwab Cup Championship has delivered substantial charitable dollars to the local community."
The event has donated more than $1 million to local charities which include the following: The Sonoma County Boys & Girls Club; The First Tee Foundation; Hanna Boys Center; Sonoma Valley Mentoring Alliance; Valley of the Moon Children’s Foundation; CommonBond Foundation; and the Sonoma Valley Hospital.
About Charles Schwab
The Charles Schwab Corporation (Nasdaq: SCHW) is a leading provider of financial services, with more than 300 offices and 6.9 million client brokerage accounts, 1.2 million corporate retirement plan participants, 200,000 banking accounts, and $1.4 trillion in client assets. Through its operating subsidiaries, the company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, http://www.sipc.org), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through its Schwab Institutional division. The Charles Schwab Bank, N.A. (member FDIC) provides banking and mortgage services and products. CyberTrader(r), Inc. (member SIPC, http://www.sipc.org) is an electronic trading technology and brokerage firm providing services to highly active, online traders. More information is available at www.schwab.com. (1007-8830)
About the PGA TOUR
The PGA TOUR is a tax-exempt membership organization of professional golfers. Its primary purpose is to provide competitive earnings opportunities for past, current and future members of the PGA TOUR, Champions Tour and Nationwide Tour; to protect the integrity of the game; and to help grow the reach of the game in the U.S. and around the world. In 2007, the three Tours will compete in approximately 110 events for approximately $340 million in prize money. Tournaments are being held in six countries outside the U.S. and in 36 states. In addition to providing competitive opportunities for its membership, TOUR events also generate significant funds for local charities. In fact, the three Tours have surpassed the $1 billion mark in overall charitable contributions. The PGA TOUR’s web site address is www.pgatour.com and the company is headquartered in Ponte Vedra Beach, FL.
Contact:
Greg Gable
Senior Vice President, Corporate Public Relations
Charles Schwab & Co.
415.636.5454
E-mail: public.relations@schwab.com
Bob Combs
Senior Vice President, Communications
PGA TOUR
904.273.3500
bobcombs@pgatourhq.com
Michael McPhillips
Director, Communications
Champions Tour
904.273.3470
michaelmcphillips@pgatourhq,com
