Korn Ferry is now the title sponsor of the PGA Tour’s developmental tour.
The Los Angeles-based global executive search and consulting firm is taking over title sponsorship from Web.com. According to Sports Business Journal, Korn Ferry has agreed to a 10-year deal and that the new Korn Ferry Tour will take effect immediately and the new sponsor will debut this week at the Wichita Open.
This is Korn Ferry’s first sports sponsorship deal. The financial details of the contract have not been released.
“We welcome Korn Ferry to the PGA Tour family with today’s announcement,” PGA Tour Commissioner Jay Monahan said in a statement. “Our thanks to Gary Burnison and his team for a parternerhsip that will promote Korn Ferry’s mission of helping people and organizations exceed their potential, collaborating with a Tour that has proven to identify the next generation of PGA Tour talent over the last 30 years.”
According to a release by the PGA Tour, the Korn Ferry Tour will also continue to award PGA Tour membership to the tour’s 50 leading players, including the Top 25 from the regular season points list and the Top 25 from the three-event Korn Ferry Tour Finals points list.
Korn Ferry Tour president Alex Baldwin told Sports Business Journal that there will be no structural changes to the tour, which features 27 tournaments including the Louisiana Chitimacha Open held at Le Triomphe Golf & Country Club in Broussard.
“The mechanics will stay the same,” Baldwin said. “At this time we focused on launching with no changes or alterations.”
Web.com had served as title sponsor for the tour the past seven years and had signed a 10-year deal in June 2012. That agreement though fell apart after the company was sold last year.
The PGA Tour’s development tour has had several title sponsors over the years being known previously as the Nationwide Tour, Buy.com Tour, Nike Tour and Hogan Tour.
In addition to being the title sponsor for the PGA Tour’s developmental tour, Korn Ferry will also take on sponsorship of the Korn Ferry Tour Championship presented by United Leasing & Finance in Evansville, Ind., which serves as the third and final event in the Korn Ferry Tour Finals.
Additionally, the developmental tour’s Q-School will also be known as the Korn Ferry Qualifying Tournament.