John Deere will continue as a title sponsor of professional golf to 2023 as a result of a seven-year extension announced by Deere & Company, the PGA TOUR and the John Deere Classic tournament
The agreement includes sponsorship of the John Deere Classic and multiple designations for John Deere in the TOUR's Official Marketing Partner programme.
"This sponsorship has significant impact in many important areas for John Deere," said James Field, president, Worldwide Agriculture and Turf Division. "The agreement helps our company sell equipment, build relationships with customers and dealers, and promote the John Deere brand worldwide."
In addition, Field noted, hundreds of community organisations have benefited from millions of dollars in contributions made through the John Deere Classic, and the tournament has had substantial economic impact on the Quad City community where it is held.
The agreement was announced during a news conference at the Deere & Company world headquarters in Moline two days before tournament play was due to begin at the 2015 John Deere Classic, which is held at the TPC Deere Run course in Illinois. PGA TOUR deputy commissioner Jay Monahan joined Field to announce the new deal that runs to 2023, taking effect when the current six-year agreement expires at the end of 2016. Financial details were not disclosed.
"When we first entered a marketing agreement with John Deere, the PGA TOUR was confident this would be an exceptional association," Monahan said. "The two organisations have similar corporate values and we are pleased with the direction this relationship has taken. We're naturally delighted to announce a continuation of this valued collaboration up to 2023."
Since the tournament began in 1971, more than $62 million has been raised for community and charitable organisations, including more than $6.3 million for 471 organisations in 2014. John Deere became title sponsor of the tournament in 1998. As a result of this new agreement, John Deere will celebrate 25 years as a PGA TOUR title sponsor in 2022.
"The board of directors for the John Deere Classic are thankful for the tremendous support provided by Deere & Company," said tournament director Clair Peterson. "We want to provide not only a great sports competition but also an event which the community can be proud of, be involved in, gain benefit from and support as a spectator or volunteer."
John Deere retains its designations as official golf course equipment supplier to the PGA TOUR and the TPC network, official landscape product supplier to the PGA TOUR, and official golf course equipment leasing company. John Deere equipment is used at all TOUR-owned TPC facilities.
A recent study by Deere estimated the impact of the John Deere Classic is worth approximately $54 million annually to the Quad City area economy. This estimate includes money spent on travel, food and accommodation by visitors, the purchase of goods and services to support the tournament, and other purchasing that would not take place if the tournament did not exist.
The sponsorship also exposes the John Deere brand to a worldwide audience. More than 125 million households in the US and one billion households worldwide will have access to the tournament telecast.
For more information, visit www.deere.co.uk.