PGA Tour to Lose Wells Fargo as Sponsor After 2024
Just a day after two-time major champion Jon Rahm left the PGA Tour for LIV Golf, the Tour got more bad news.
Wells Fargo announced that the 2024 season will be their last as a tournament sponsor for the Tour.
They previously headlined the Wells Fargo Championship at Quail Hollow.
“Wells Fargo is not renewing the Wells Fargo Championship as a Signature Event in 2025 and beyond. We are incredibly proud of the 20+ year history of the Championship. The tournament has generated significant local impact and delighted golf fans in Charlotte and across the country. Since 2003, the Wells Fargo Championship has generated more than $30 million in support of numerous charitable foundations,” the tournament said in a statement to Sports Illustrated.
According to Josh Carpenter of the Sports Business Journal, Wells Fargo wanted to stay on, but not for the price that the PGA Tour was asking for.
In 2023, the Wells Fargo Championship was one of the Tour’s elevated events, meaning a better field, but also an increased purse size.
The 2023 purse went form $9 million in 2022 to $20 million in ’23.
Wyndam Clark won the 2023 event.