Announcements

We are pleased to serve as the primary source of sponsorship information and analysis for news media around the globe. Our current annoucements and news releases are viewable through the links below.


Articles and Press Releases:

Golf Sponsorship To Total $1.31 Billion In 2009

September 02, 2009:

Fallout in the financial services and auto categories weighs on sponsorship spending

For More Information Contact:
William Chipps, IEG, LLC, Tel: 312/944-1727
william.chipps@sponsorship.com
sponsorship.com

golf sponsorship spendingChicago, Ill. – North American-based companies will spend an estimated $1.31 billion to sponsor professional and amateur golf tournaments, sanctioning bodies and related events in ’09, down 3.7 percent from $1.36 billion in ’08, according to IEG, LLC, the world’s leading authority on sponsorship.

Perhaps more than any other single sport, with the exception of auto racing, sponsorship spending on golf has taken a major hit over the past year as a result of the economy and subsequent fallout in the automotive and financial services categories, two of the sport’s most active sponsors.

The PGA Tour this year lost Stanford Financial Corp., U.S. Bancorp and FBR Capital Markets Corp., the latter of which will drop its title of the tour’s Phoenix tournament after ’10.

Spending on behalf of financial services companies—and interest in new deals—also has taken a hit from TARP and greater scrutiny over sponsorship expenditures and potential public outcry

“Call it the ‘big shrimp syndrome.’ Many companies are reluctant to sign new deals over concerns about what might be perceived as excessive corporate hospitality,” said William Chipps, IEG Sponsorship Report’s senior editor.

On the automotive front, General Motors Corp.’s bankruptcy forced Buick to drop its decades-long partnership with the PGA Tour, a tie that included title of two tournaments, one of which it owned.

But not all is doom and gloom: The tour has replaced some lost sponsors with new partners. New sponsors include SBS (Seoul Broadcasting System), which will title the PGA Tour’s season-opening event in Kapalua, Hawaii, and West Virginia’s The Greenbrier resort, which will title and host a new event taking the place of Michigan’s Buick Open on the tour schedule.

In addition, the tour also has renewed a handful of partners, including Accenture Ltd.; Bridgestone Americas, Inc.; Delta Air Lines, Inc.; Sentient Jet, Inc.; The Travelers Cos.; and Zurich Financial Services.

Other companies are expanding their involvement in the sport. For example, Mercedes-Benz USA, LLC signed new deals with the PGA Tour Northern Trust Open, Tiger Woods Foundation and PGA of America, the latter of which affords official vehicle status of the PGA Championship and Senior PGA Championship, among other benefits. The deals replace Mercedes’ 10-year-old title of the Kapalua opener.

On the endorsement front, AT&T Inc. this year expanded its partnership with Tiger Woods in a deal that affords logo exposure on the athlete’s golf bag, inventory previously owned by Buick.


About IEG, LLC

IEG is the world’s leading provider of independent research, consulting, training and analysis on sponsorship. Founded in 1981, IEG provides corporations and properties with the strategies and tools to harness the sales and marketing power of sports, arts, entertainment and cause marketing.

IEG offers services that include sponsorship consulting, competitive intelligence and valuation. IEG also publishes IEG Sponsorship Report, the international biweekly newsletter on sponsorship; the IEG Sponsorship Sourcebook, the definitive guide to sponsors, properties and agencies; and other industry publications and sources.

IEG also is the leader in sponsorship training. Its internationally renowned Sponsorship Conference, now in its 26th year, attracts a capacity crowd of delegates each year. Through its conferences, seminars and webinars, IEG has trained more than 45,000 sponsorship executives worldwide.

For more information about IEG and the sponsorship industry, please visit www.sponsorship.com or call 800/834-4850 (outside the U.S. and Canada, 312/944-1727).