Executives from the PGA Tour and the event formerly known as the Honda Classic gathered Wednesday at the Marriott in Palm Beach Gardens to announce a new partnership. However, that official announcement has been delayed until later.
The announcement is expected to be a new named sponsor for the event.
PGA Tour Interim Executive Director Joie Chitwood said the sponsorship will carry The Classic in the Palm Beaches event for the next six years. He also said its an automotive company, but did not specify which one. He did tell the room filled with people expecting the announcement that its a company with luxury and performance at its core.
I think itll fit quite well with this market. Big shoes to fill obviously with Honda and what they did but a new title sponsor automotive partner, were changing the golf hole, were going to offer better ticket prices, Chitwood said. We move fast, we make things happen and so were excited to be here. Already on day two of being on property, were going to announce some fun things.
Panelists also talked about how the event will continue to impact the local economy and tourism saying the event has brought in more than $80 million.
They also discussed new projects for the TMRW Sports brand. The brand, partly owned by Tiger Woods, will include a tournament using IMAX style screens and virtual reality to enhance the game.
No word yet on who the title sponsor will be, but executives said they want to make sure they get everything right before making the announcement.