The PGA TOUR and Valero Energy Corporation announced today a six-year extension of Valero's sponsorship commitment to the Valero Texas Open in San Antonio. The new deal takes effect in 2013 and runs through 2018.
The announcement comes as the tournament prepares to celebrate its 90th year in San Antonio, making it one of the longest-running tournaments on the PGA TOUR and the longest held in the same city, dating back to 1922. The Valero Texas Open also has become a leader in charitable donations on the PGA TOUR. Last year's Valero Texas Open generated a TOUR-record $9 million for charity, bringing the tournament's all-time contributions to $67 million, $62.5 million of which has come since Valero became title sponsor in 2002. It has led PGA TOUR tournaments in charitable giving in five of the past six years.
"Valero is proud to continue its title sponsorship of the Valero Texas Open and to continue its association with the PGA TOUR," said Mike Crownover, Valero's Senior Vice President of Human Resources and the Valero executive overseeing the company's activities at this year's tournament. "The extended sponsorship shows Valero's commitment to our hometown of San Antonio and to the deserving charities that benefit from the millions of dollars raised each year."
"The Valero Texas Open has been an integral part of the San Antonio community and the PGA TOUR for 90 years," said PGA TOUR Commissioner Tim Finchem. "Not only does it celebrate a rich history as a premier sporting event in San Antonio, it also has had a significant impact on thousands of lives through a remarkable charitable record, particularly since Valero became involved as title sponsor.
Valero has been a terrific partner of the tournament and the PGA TOUR, and I am delighted that with today's announcement this legacy will continue in San Antonio for the foreseeable future."
As part of the extension, Valero, in partnership with Golf San Antonio, will continue its support of The First Tee of San Antonio by donating $1.2 million over the term of the deal to provide a base of support upon which the San Antonio community can build. The chapter is located at historic Brackenridge Park, site of the Valero Texas Open's original home course.
"This is a perfect example of how PGA TOUR tournaments and their sponsors can a have significant impact on a community," said Joe Louis Barrow, Jr., chief executive of The First Tee. "Valero's commitment to The First Tee of San Antonio will allow the chapter to further its reach and impact in the community, thus making a difference for thousands of young people who will be better prepared for life beyond the golf course."
Since it began programming in 2002, The First Tee of San Antonio has reached almost 25,000 young people with educational-based programs that build character using golf as the platform. In addition, The First Tee National School Program is currently in 38 area elementary schools, introducing more than 19,000 students each year to golf and core values during physical education classes.
While the Valero Texas Open has a long history in San Antonio, it has undergone two significant changes in the past several years. Long contested as a fall tournament, the Valero Texas Open moved to the spring in 2009 to become part of the FedExCup Regular Season. Then, in 2010, it moved to the AT&T Oaks Course at the newly opened TPC San Antonio, adjacent to the JW Marriott San Antonio Hill Country Resort & Spa. The course was designed by Greg Norman with Sergio Garcia serving as player consultant. Brendan Steele won last year's Valero Texas Open, one of seven rookies to win on the PGA TOUR in 2011.