“The PGA Tour is never going away” - American Express CEO committed to sponsor the PGA Tour tournament through 2028
The PGA Tour has recently suffered some sponsor losses, but the thinking of those who have decided to withdraw has not been unanimous. For example, Stephen Squeri, CEO of American Express, has said that his company will remain commited to the tour for the long term. "The PGA Tour is never going away," Squeri said.
American Express sponsors the PGA Tour event originally known as the Desert Classic. For Squeri, it's a relationship that will not only continue, but one that they will work to grow.
Squeri offered this on Friday, January 19, in an interview for CNBC's Haltime Report. This was part of what he said about his sponsorship relationship with the PGA Tour.
"The PGA Tour is never going away. We never gave it a second thought. We’re committed to this tournament all the way through 2028, and we intend to be here and continue to invest and make it better," Squeri said.
He also stated during the interview that the company's plans do not include The Emerican Express Tournament moving towards a limited field event. On the contrary, he assured that the interest is for the field to be as large as possible.
Recently, Wells Fargo informed that it will no longer sponsor the Wells Fargo Championship after the 2024 edition. Something similar was announced by Farmers Insurance, which said it will only sponsor the Farmers Insurance Open until the expiration of its contract in 2026.
However, other sponsors have continued to arrive. With the withdrawal of Honda from sponsorship of the Palm Beach, Florida Tournament, Cognizant took over the event as title sponsor, starting this year.
Some highlights of the PGA Tour's 2024 American Express Tournament (Rounds 1 and 2)
Zach Johnson and Alex Noren led the first round of The American Express Tournament 2024 with a score of 10 under. Johnson posted a bogey-free round with 10 birdies, while Noren had an eagle, 10 birdies and a double bogey.
However, neither got off to good starts on Friday. The Swede had managed only two birdies, with no bogeys, by the 13th hole, while the American had four birdies and a bogey by the 15th.
The surprise of the tournament so far has been Nick Dunlap, an amateur player who plays collegiate golf for the University of Alabama. At only 20 years of age, he is in his fourth official start on the PGA Tour.
Dunlap played his first round for a score of -8 which placed him T3. His performance included two eagles, five birdies and one bogey. The young Arizona Wildcat was on fire on Friday as well, posting six birdies with no bogeys on the front nine. He is currently playing his round for -6 at the 11th whole.