PGA Tour announces new sponsor to replace Wells Fargo for 2025 Signature Event
The PGA Tour officially announced on Tuesday, August 6, the identity of the company that will replace Wells Fargo as the title sponsor of the event traditionally held at Quail Hollow Club. The new sponsor is another financial institution, Truist Financial Corporation, based in Charlotte, North Carolina.
Truist Financial Corporation was formed four years ago following the merger of BB&T and SunTrust Banks but its history dates back to the end of the 19th century. Today, the company has more than 2,000 branches across the United States.
Truist Chairman and CEO Bill Rogers was quoted as saying about the new sponsorship (via PGA Tour News Service):
“We are honored to be the title sponsor of the PGA Tour’s Charlotte-based Signature Event...We look forward to partnering with the PGA Tour to elevate this wonderful championship event and Truist’s deep community impact, and to further fulfill our purpose to inspire and build better lives and communities."
PGA Tour Commissioner Jay Monahan had this to say:
"We are delighted to welcome Truist to the PGA TOUR family as the new title sponsor of the Truist Championship, a Signature Event that has continued to grow in size and stature since its introduction to the golf calendar."
The PGA Tour also announced that the inaugural edition of the tournament formerly known as the Wells Fargo Championship, now renamed the Truist Championship, will be played at the Philadelphia Cricket Club in 2025 instead of its traditional venue at Quail Hollow.
Quail Hollow Club has been designated as the venue for the 2025 PGA Championship, so the facility will focus on preparing for the Major championship. However, Quail Hollow will remain the traditional home for the Truist Championship.
Truist Financial has many ties to sports sponsorship, primarily through facility sponsorships. The most prominent of these is Truist Park, home of the MLB team Atlanta Braves.
In December 2023, Wells Fargo announced its decision to end its sponsorship of the Quail Hollow event after the 2024 edition.
A look back at the history of the Wells Fargo Championship
The Wells Fargo Championship, now renamed the Truist Championship, began in 2003 with Wachovia as the title sponsor. The relationship spanned the first six editions, during which the purse grew from $5.6 million to $6.4 million.
Following the acquisition of Wachovia by Wells Fargo, the event was renamed the Quail Hollow Championship for two seasons (2009, 2010) with a purse of $6.5 million. In 2011, Wells Fargo began its era as the title sponsor.
The tournament has always attracted big names on the PGA Tour, which has increased in recent years following its designation as a Signature Event. Rory McIlroy is the all-time leading winner at Quail Hollow with four victories. Max Homa trails the Northern Irishman and has won two editions.