The Nissan Open has become the Northern Trust Open, the PGA Tour announced today. Northern Trust signed a deal to become the title sponsor for the PGA Tour stop at Riviera Country Club throuhg 2012. Nissan had been the sponsor of the event since 1989, but moved its company headquarters and was looking for a way out of its contract, which went thorugh 2010.
The new name comes with a bigger purse at $6.2 million, up $1 million from last year’s purse. Charles Howell III won the tournament last year. All the biggest names except Tiger Woods played in the event last year. Even Phil Mickelson, who normally skipped the event, played in Los Angeles and finished ..
The Northern Trust Open is Feb. 14-17.
On behalf of the tournament, we are thrilled that such a premier brand has been selected as the new title sponsor of the event, said tournament director Tom Pulchinski said in a statement. We look forward to the opportunity of continuing the successful growth of the tournament on both the operational as well as charitable levels.
The tournament began in 1926 as the Los Angeles Open.
Here is the full release:
CHICAGO and PONTE VEDRA BEACH, FL (October 15, 2007) Northern Trust (Nasdaq: NTRS), one of the nations largest personal trust companies and a leading provider of wealth management services, has become the title sponsor of the PGA TOURs historic tournament at Riviera Country Club in Los Angeles, beginning in February 2008.
The five-year agreement, which extends through the 2012 event, was announced today by PGA TOUR Commissioner Tim Finchem and William A. Osborn, Chairman and CEO of Northern Trust Corporation. The tournament will be known as the Northern Trust Open, and the new partnership marks the beginning of a process of transformation for this high-profile tournament.
We are extremely pleased to announce this new partnership with Northern Trust and excited about its plans to further elevate the profile of this storied tournament, Finchem said. We look forward to working with Northern Trust and the Los Angeles Junior Chamber of Commerce, as the host organization, to review all aspects of the event and determine how best to enhance its impact.
As part of the initial move to enhance the tournament, the Northern Trust Open will increase its purse to $6.2 million in 2008, an increase of $1 million over this year. Additionally, the tournament pro-am will go from four amateurs to three per group. Further changes and upgrades are planned and will be announced at a later date.
Since 1889, Northern Trust has invested in the communities where we live and do business. We are especially pleased to be associated with such a marquee event that provides funds to charities in Los Angeles on what will be our 20th anniversary in California, said Osborn. We look forward to partnering with the PGA TOUR to help create a premier event experience for all involvedvolunteers, patrons, local and international business partners, and TOUR players and families.
The 2008 Northern Trust Open is scheduled for the week of Feb. 11-17. Charles Howell III is the reigning champion.
On behalf of the tournament, we are thrilled that such a premier brand has been selected as the new title sponsor of the event, said Tournament Director Tom Pulchinski. We look forward to the opportunity of continuing the successful growth of the tournament on both the operational as well as charitable levels.
What started as the Los Angeles Open is one of the longest-running tournaments on the PGA TOUR and is the oldest civic-sponsored event, debuting in 1926 at Los Angeles Country Club. It had been staged at various courses throughout the Los Angeles area before permanently settling at Riviera Country Club in 1973.
I would be remiss not to acknowledge and thank Nissan for its 19 years of sponsoring the tournament, making it one of the longest-running sponsors on TOUR, Finchem said. Nissan has helped with the tournaments growth and charitable impact in the Los Angeles community.