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Sponsorship Of Golf Events, Sanctioning Bodies And Related Events To Total $925 Million In 2004

June 15, 2004: Pharmaceutical category ups golf involvement; companies become more strategic executing corporate hospitality programs

For Immediate Release:
June 15, 2004

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

Chicago, Ill. North American companies will spend an estimated $925 million to sponsor golf tournaments, sanctioning bodies and related events in 2004, up from $855 million in 2003 and $750 million in 1998.

The rebounding economy, coupled with incremental spending by both new and existing sponsors, is fueling the increased spend.

"Many companies that were reluctant to sign new deals over the past several years are increasingly returning to sponsorship as a platform to build visibility and generate new business," said William Chipps, senior editor of IEG Sponsorship Report, the world’s leading authority on sponsorship.

Pharma, Employment Categories Up Spend
Golf properties also have benefited from an uptick in spending by both new and existing sponsor categories.

The pharmaceutical category, for example, has ramped up its sponsorship spend on golf over the past several years, with AstraZeneca recently signing a multiyear partnership with the PGA Tour on behalf of its Crestor cholesterol-lowering medication. The tie affords an affiliation with the PGA Tour, Champions Tour and title of the Crestor Charity Challenge, a weekly competition that recognizes the tournament leader entering the final round at select PGA Tour events.

The sport also has benefited from new spending initiatives by recruitment, staffing and related firms. For example, human resource outsourcing company Administaff, Inc. recently signed three year title of the Champions Tour stop in Houston; the event is now called the Administaff Small Business Classic.

Other active categories include technology, utility, packaged goods and computer software companies, with Constellation Energy and EDS recently extending title of Champions Tour and PGA Tour stops, respectively.

Companies Get Strategic With On-site Execution
Companies that sponsor golf tournaments are becoming increasingly savvy with corporate hospitality, which in turn is drawing renewed interest from prospective sponsors looking for venues to entertain clients.

Take Bank of America, which generated incremental revenue and increased consideration and loyalty after revamping its on-site hospitality around 13 PGA Tour events last year. Case in point: the bank’s Dealer Financial Services Group generated a 25 percent increase in revenue from dealers it hosted at the Ford Championship at Doral, while it’s Premier Banking Group garnered a 20 percent increase in investment balances from clients entertained at the first four events of the season.

The bank credits a large part of that success to its exclusive "Hogan’s Alley" hospitality tent featuring leather chains and other amenities. Ninety-six percent of Hogan’s Alleys attendees said they were satisfied with the experience, while 73 percent said it was much better than any other hospitality event they attended.

"Companies that take a strategic approach to sponsorship and corporate hospitality almost always see a positive return on investment," Chipps said.


About IEG, LLC
IEG is the world's leading provider of independent research, training and analysis on sponsorship. Founded in 1981, IEG provides corporations with the strategy and tools to harness the sales and marketing power of sports, arts, events, entertainment and cause marketing.

IEG offers services that include consulting, sponsorship intelligence and valuation. IEG 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 Event Marketing Conference, now in its 21st year, attracts a capacity crowd of delegates each year. Through its conferences and seminars, IEG has trained more than 25,000 sponsorship executives worldwide.

For More Information Contact:
William Chipps, IEG, LLC, Tel: 312/944-1727; Fax: 312/944-1897;
E-mail: william.chipps@sponsorship.com or visit IEG's Web site: www.sponsorship.com

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