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The company has been the title sponsor since
2010 but seems to be pulling out of the golf business. Last
week, Rickie Fowler told Golfweek that his sponsorship contract
with Farmers had expired and he was told it would not be
renewed.
The tournament started in 1952 as the San Diego Open, and
entertainer Andy Williams was the celebrity host from 1968 to
1988. A variety of companies, including Shearson Lehman and
Buick, were title sponsors before Farmers Insurance took over.
Tiger Woods is a seven-time champion of the event.
Golfweek reported that title sponsors pay between $13 million to
$15 million per year.
Farmers follows Wells Fargo in pulling out as a title sponsor.
Wells Fargo is not re-signing its agreement to sponsor the event
at Quail Hollow Club in Charlotte, N.C., because of an increased
fee, per Sports Business Journal.
The $9 million Farmers Insurance Open is scheduled for Jan.
24-27. Max Homa is the defending champion.
--Field Level Media
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