HARTFORD, Conn. (WTNH) — The Travelers insurance company and the PGA tour announced a new contract agreement earlier today. News 8’s Kent Pierce was there and gives us the details.
The Travelers literally rolled out the red carpet at the Connecticut Convention Center on Thursday.
They also brought out the golf carts to make it seem like we were heading out to the course instead of a press conference. With all of this excitement, it is not like they were going to say that they were not sponsoring the tournament for the future, but what was surprising was the length of the contract.
“We’re pleased to share that the new agreement of sponsorship of the Travelers Championship will now extend for the next 10 years,” said Tim Finchem, PGA Tour Commissioner.
Although this conference is technically addressing a golf tournament, it is also about the amount of money that the tournament brings in for the state, businesses and charity.
“Making it a $28 million contribution to our economy, $1.25 million this past year distributed to 180 charities,” said Governor Malloy.
“The PGA Tour has now exceeded $2 billion in their contributions to charity since they began this mission – the only sporting event where the bottom line goes to charity,” said Jay Fishman, Travelers Chairman & CEO.
The bottom line for the tournament is that people keep coming. The crowd you see behind the players has continued to grow since the Travelers took over sponsorship.
“Back in ’05, the hill had gone a little bit empty, so we wanted to fill the hill and I think all of us who’ve been at the tournament, we’ve accomplished goal one, we’ve filled the hill,” said Andy Bessette, Travelers CAO.