Northern Trust, which has supported the PGA Tour’s Los Angeles stop since 2008, announced it is extending its title-sponsorship role through 2016.
The new deal is for four years and secures long-term support for the Northern Trust Open at Riviera Country Club in Los Angeles.
The agreement follows the Tour’s direct involvement in reinvigorating the historic tournament. In 2009, its Championship Management division partnered with the Los Angeles Junior Chamber of Commerce, the tournament’s host organization, to assume day-to-day operations of the event. Later that year, Jerry West, the NBA legend and ambassador, was appointed executive director of the Northern Trust Open.
“Over the past four years, we have seen tremendous strides and a renewed energy surrounding the Northern Trust Open, particularly with the addition and leadership of Jerry West,” said PGA Tour commissioner Tim Finchem in a statement.
“We are proud to renew our commitment to the Northern Trust Open,” said Northern Trust chairman and CEO Frederick H. Waddell. “The Northern Trust Open provides a premiere event for clients, improves brand awareness, and helps the community by generating substantial charitable donations and economic activity.”
According to a 2010 study commissioned by the PGA Tour, the Northern Trust Open generates an economic impact of more than $21 million for Los Angeles County. The study says the impact includes the equivalent of 201 full-time jobs for a year created by the event, with earnings of approximately $7.4 million and local tax revenues of $350,000.