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Colonial golf tournament announces four-year sponsorship deal

The news of a four-year sponsorship deal were made official Monday afternoon.

FORT WORTH – The Colonial golf tournament – taking place this year as the Fort Worth Invitational – has a new title sponsor.

Tournament officials on Monday announced a four-year partnership with the investment services company Charles Schwab. The agreement begins next year and runs through 2022.

“We are honored to support one of the country’s premier and longest-running PGA TOUR events that is a showcase for the game’s best players and is a TOUR leader in charitable giving,” Charles Schwab Senior Executive VP Jonathan Craig said in a press release. “Schwab has a long history of investing in the communities in which we live and serve our clients and with our growing presence in, and commitment to the state of Texas, we could not be more delighted to support the tradition of this tournament.”

Sponsorship issues put the tournament’s future in question late last year. Dean and Deluca, which sponsored the event for two years, pulled out after the 2017 tournament.

The tournament was renamed the Fort Worth Invitational last month after local companies American Airlines, AT&T, XTO Energy, Inc., and Burlington Northern Santa Fe signed on as sponsors to save the tournament.

The 2018 Fort Worth Invitational takes place May 21-27.

“We are thrilled that Charles Schwab will become the new title sponsor of this historic tournament, which has such great tradition and strong ties to the late golf legend Ben Hogan dating to 1946,” Andy Pazder, Chief Tournament and Competitions Officer for the PGA TOUR, said in the release. “Considering Charles Schwab’s longstanding marketing relationship with the PGA TOUR and its impact as a sponsor on PGA TOUR Champions, we know it will be an equally fruitful relationship here at Colonial Country Club.”

Charles Schwab is headquartered in San Francisco but is planning to open a $100 million campus in Westlake next year. That campus will house 2,600 employees when finished, with enough room to accommodate 5,000 employees, according to the Dallas Business Journal.

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