Monday, January 14, 2002
A new four-year deal between Sony Incorporated and the PGA Tour will keep an event on Oahu for at least four more years. Sony staying for 4 more years
By Paul Arnett
parnett@starbulletin.comTour commissioner Tim Finchem and Sony chief executive officer Nobuyuki Idei were on hand at yesterday morning's announcement at the Waialae Country Club. The title sponsorship for the Sony Open is good through 2006. ESPN-TV will be the broadcast partner for the duration of the deal.
Prize money will increase from its current $4 million to $5.5 million over the course of the four-year contract. It has more than tripled since 1999, while charitable proceeds generated about $1.5 million over the last three years.
"We are very pleased the Sony Corporation will continue to sponsor the Sony Open in Hawaii for four more years," Finchem said. "Since 1999, Sony's active participation and support have made it possible to elevate the stature of the event, both domestically and internationally, and enabled the tournament to increase its contributions to local charities dramatically."
The Mercedes Championships at Kapalua and the Sony Open will be the two opening acts on the PGA Tour for the next four years. The Mercedes Championships is a winners-only event. The Sony Open will be the first full-field tournament through 2006.
"We are honored to have the opportunity to sponsor the Sony Open in Hawaii through 2006," said Idei. "The Sony Open is not only a premier sports event, but it is also an extraordinary marketing vehicle that allows us to keep improving one of the world's most valuable brand names.
"As added benefit, the Sony Open forum provides the opportunity for select senior business executives to meet and discuss critical global business issues. It has been held every year since 2000. The Sony Open reaches millions of television viewers globally, yet it also serves several important purposes for the Hawaiian community."
Local officials believe the two tournaments' economic impact is about $25 million. Not only is the Sony Open shown nationally in America, but on several Japanese TV networks as well. While the Sept. 11 attacks damaged the mainland tourist market, it particularly hurt the Japanese coming here for vacation. The Sony Open may help reopen those doors.
"The Sony Open has been a world-class golf tournament for the state of Hawaii," Gov. Ben Cayetano said. "This event has meant a great deal to our residents and visitors. I am pleased that Sony is extending its sponsorship of this tournament for another four years. It shows they are satisfied with the corporate support they've received here in Hawaii."