Hyundai Motor America and the PGA Tour extended its current contract for two more years, it was announced today by both parties.
The extension keeps the winners-only men’s golf event at the Plantation Course in Kapalua, Maui, through the 2014-2015 season. It will be held January 3-6 and marks the resumption of the upcoming tour season after a six-week break.
“We are very pleased to have Hyundai continue as title sponsor of the Tournament of Champions, which has played a distinctive role on the PGA Tour for more than 60 years by inviting only tournament winners from the previous year,” said PGA Tour commissioner Tim Finchem in a release.
“Hyundai has been very active in promoting the tournament and using it to broaden awareness of its brand and products. We look forward to continuing to work with Hyundai over these next two years to meet its objectives as title sponsor.”
Hyundai officials were also pleased with the development.
“The Hyundai Tournament of Champions is an ideal platform to share Hyundai’s premium lineup with golf fans around the world,” said Steve Shannon, vice president of marketing. “The tournament has continued to grow the past three years with ratings up more than 75 percent in 2013. Not surprisingly, the ratings increase and our involvement with the PGA Tour has coincided with market share growth of our premium vehicles, Genesis and the flagship Equus. This tournament is a great fit for our brand.”
In addition, Seoul Broadcasting System (SBS) continues its relationship with the tournament, under terms of a 10-year agreement that began in 2010.