MOLINE, Ill., July 7, 2015 /PRNewswire/ -- John
Deere will continue as a title sponsor of professional golf
through 2023 as a result of a seven-year extension announced today
by Deere & Company (NYSE: DE), the PGA TOUR and the John Deere
Classic. The agreement includes sponsorship of the John Deere
Classic and multiple designations for John Deere in the TOUR's
Official Marketing Partner program.
"This sponsorship has significant impact in many important areas
for John Deere," said James Field,
president, Worldwide Agriculture and Turf Division. "The agreement
helps our company sell equipment, build relationships with
customers and dealers, and promote the John Deere brand
worldwide."
In addition, Field noted, hundreds of community organizations
have benefited from millions of dollars in contributions made
through the John Deere Classic and the tournament has had
substantial economic impact on the Quad City community where it is
held.
The agreement was announced during a news conference at Deere
& Company World Headquarters two days before tournament play
begins at the 2015 John Deere Classic.
PGA TOUR Deputy Commissioner Jay
Monahan joined Field to announce the new deal that runs
through 2023, taking effect when the current six-year agreement
expires at the conclusion of 2016. Financial details were not
disclosed.
"When we first entered a marketing agreement with John Deere,
the PGA TOUR was confident this would be an exceptional
association," Monahan said. "The two organizations have similar
corporate values and we are pleased with the direction this
relationship has taken. We're naturally delighted to announce a
continuation of this valued collaboration through 2023."
Since the tournament began in 1971, more than $62 million has been raised for community and
charitable organizations, including more than $6.3 million for 471 organizations in 2014.
John Deere became title sponsor of the tournament in 1998. As a
result of the agreement announced today, John Deere will celebrate
25 years as a PGA TOUR title sponsor in 2022.
"The Board of Directors for the John Deere Classic are thankful
for the tremendous support provided by Deere & Company," said
tournament director Clair Peterson.
"We want to provide not only great sports competition but also an
event which the community can be proud of, be involved in, gain
benefit from and support as a spectator or volunteer."
Deere retains its designation as Official Golf Course Equipment
Supplier to the PGA TOUR, Official Golf Course Equipment Supplier
of the TPC Network, Official Landscape Product Supplier of the PGA
TOUR, and Official Golf Course Equipment Leasing Company. John
Deere equipment is used at all TOUR-owned TPC facilities.
A recent study by Deere estimated the impact of the John Deere
Classic is approximately $54 million
annually to the Quad City area economy. This estimate includes
money spent on travel, food, and lodging by visitors, the purchase
of goods and services to support the tournament, and other
purchasing that would not be needed if the tournament did not
exist.
The sponsorship also exposes the John Deere brand to a worldwide
audience. More than 125 million households in the U.S. and one
billion households worldwide will have access to the tournament
telecast.
About John Deere -
Deere & Company (www.JohnDeere.com) is a world leader
in providing advanced products and services and is committed to the
success of customers whose work is linked to the land. Since 1837,
John Deere has delivered innovative products of superior
quality built on a tradition of integrity.
About the PGA TOUR - The PGA TOUR (PGATOUR.com) is the
world's premier membership organization for touring professional
golfers, co-sanctioning more than 130 tournaments on the PGA TOUR,
Champions Tour, Web.com Tour, PGA TOUR Latinoamérica, PGA TOUR
Canada and PGA TOUR China. Worldwide, PGA TOUR tournaments are
broadcast to more than 1 billion households in 226 countries and
territories in 32 languages. In 2014, tournaments across all Tours
generated a record $140.5 million for
local and national charitable organizations.
About the John Deere Classic - The John Deere Classic
debuted on the PGA TOUR as the Quad Cities Open in 1971 and has
helped raise in excess of $62 million
for community and charitable organizations. John Deere has been
title sponsor since 1998.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/deere--company-extends-pga-tour-relationship-through-2023-300109550.html
SOURCE Deere & Company