Hyundai Motor Co. has signed a three-year deal to be the title sponsor of the PGA Tour's season opening tournament held the first week of January 2011.
The tournament will be called the Hyundai Tournament of Champions, Hyundai and the PGA said today in a joint statement. It had been called the SBS Championship, after a 10-year sponsorship deal was signed last year by the PGA and Seoul Broadcasting System International.
SBS will still be one of the tournament's sponsors.The move brings Hyundai into the fray of other automotive brands like Mercedes-Benz, Lexus, Buick and Infiniti that have sponsored PGA tournaments in the past. It also marks Hyundai's latest attempt to use professional sports as a marketing conduit. The brand was the global sponsor of the 2010 FIFA World Cup in South Africa and also ran ads during the Super Bowl last February.
The tournament will still be held at the Plantation Course in Kapalua, Hawaii.