The PGA TOUR and Korn Ferry (NYSE: KFY) announced last week a 10-year agreement making the Los Angeles-based, global organizational consulting firm the Umbrella Sponsor of the newly named tour.
This means the Web.com Tour will now be known as the Korn Ferry Tour.
Korn Ferry’s sponsorship took effect on June 19, replacing Web.com, and extends through the 2028 season. The renamed tour will continue to award PGA TOUR membership to the Tour’s 50 leading players, including the top 25 from the Regular Season points list and the top 25 from the three-event Korn Ferry Tour Finals points list.
The announcement was made jointly by PGA TOUR Commissioner Jay Monahan, Korn Ferry Chief Executive Officer Gary Burnison, and President Alex Baldwin on Wednesday morning in New York City.
“We welcome Korn Ferry to the PGA TOUR family with today’s announcement,” said Monahan. “Our thanks to Gary Burnison and his team for a partnership that will promote Korn Ferry’s mission of helping people and organizations exceed their potential, collaborating with a Tour that has proven to identify the next generation of PGA TOUR talent over the last 30 years.”
Korn Ferry also becomes a PGA TOUR Official Marketing Partner as the “Official Leadership Development Firm” of the PGA TOUR, PGA TOUR Champions and KFT. Additionally, Korn Ferry will assume sponsorship of the KFT Championship presented by United Leasing & Finance in Evansville, Indiana.
“We’re excited to partner with the PGA TOUR. Our organizations are both all about talent—getting players and people to that next level and advancing their careers. People will never discover their full potential until they are provided an abundance of opportunity,” said Burnison.
“This sponsorship will further elevate our brand as a global organizational consultancy and extend awareness of our firm to new audiences around the world.”
Korn Ferry develops and coaches 1.2 million people a year, puts someone in a new job every three minutes and has worked with companies to evaluate and assess nearly 70 million professionals. The firm has offices in more than 50 countries and 8,500 employees.
Korn Ferry works with clients to design their organizational structures, roles and responsibilities. The firm helps them hire the right people and advise them on how to reward, develop and motivate their workforce. Korn Ferry also helps professionals at all levels navigate and advance their careers.
“This is a tremendous day for our organization, and we are eager to work with Gary and his team as we continue to build the Korn Ferry Tour from the strong foundation already in place,” said Baldwin, the first female to be named president of one of the PGA TOUR’s six global Tours earlier this year.
“Korn Ferry has an impassioned desire to enhance the careers and brands of our players through this incredibly competitive Tour. This partnership will allow us to further those goals while elevating the Tour and our tournaments for our partners and fans.”