CEO: Deutsche Bank likely to continue role on Tour
Monday, July 30, 2012
NORTON, Mass. – No, there are not yet any signatures on official documents, but so far as Seth Waugh is concerned there’s something in place that is stronger than ink.
“Good faith makes good friends and it is easier (to do this) when you have good friends,” said Waugh during the annual Deutsche Bank Championship media day at TPC Boston.
The occasion was to promote the 10th edition of the DBC, which will begin Aug. 31 and conclude, per tradition, on Labor Day Monday. It will again be the second tournament in the FedEx Cup playoffs and to hear Waugh tell it, not much will change in the next few years. Though DBC is in the last year of its contract as title sponsor, Waugh – the CEO of Deutsche Bank Americas – expressed supreme confidence that the bank will continue its role.
“Maybe we’re not at the 1-yard line, but we’re inside the 10,” Waugh said. He added that he had hoped to make an official announcement, but “still, I like our chances even more than ever (to re-up).”
When Waugh talks of “friends,” he’s talking about four other corners that make up the foundation of this tournament. EMC, the data storage giant that is based in Hopkinton, Mass., would remain the local presenting sponsor, and clearly there is a close relationship between the bank and EMC. But Waugh was also extending thanks to PGA Tour officials; IMG, which helps manage the tournament; and the Tiger Woods Foundation, which receives charitable funds from the tournament.
Waugh indicated he suspected an official announcement would come during the tournament.