11 May, 2017
Called the FedEx Cup, the points race concludes at the Tour Championship in Atlanta, with the victor awarded a $10 million bonus on top of prize money earned. The entities have been discussing a renewal for months and timed the announcement in conjunction with this week's Players Championship at PGA Tour headquarters.
"I think FedEx has a great deal of confidence that wherever we end up with our schedule on a long-term basis and however we create the FedEx Cup season and the playoffs, all of that will be done in a way that's going to be in the best interest of the Cup and our players", Monahan said.
Monahan said the tournament generated $8.5 million for charities a year ago.
The tournament was moved to May in 2007 after more than three decades in March, and Monahan said it is staying in May for now.
Patrick Fitzgerald, senior vice-president, Integrated Marketing and Communications for FedEx, said the company's first deep dive into sports sponsorship was in golf, at the FedEx St. Jude Classic in Memphis (a relationship now in its 32nd year, with more than $30 million having been raised for the St. Jude Hospital), and believes that golf fits perfectly with the brand image of the company. In the end, it's the players.
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"Whether or not we make any changes, we haven't made any firm decisions, but that is what I'm referring to when I talk about flexibility". Were totally focused on doing everything we can to continue to develop and grow and expect to be in partnership with them for a long time to come, he said.
The tour now is looking to tighten the schedule even more so that the FedEx Cup ends before the start of the National Football League season.
Asked about making such a long-term commitment to golf as the game forges into the future with its brightest star, 41-year-old Tiger Woods, on the sideline and facing an uncertain road ahead, Fitzgerald did not mince words. "That's very exciting for us as a global business".
Monahan said more changes are possible to the FedEx Cup, though he said there was no discussion about rotating the Tour Championship out of East Lake in Atlanta, where it has been played every year since 2004.
"We're trying to do better", he said.