SportBusiness Journal reports that the sponsorship would involve naming rights for a season-long competition that either awards a bonus prize, or finishes with a tournament named after the sponsor.
The LPGA is hoping to earn $3.5 million per year from the deal, and is aiming for a three-year duration, with an option to extend for two more years.
The sponsor would acquire branding and hospitality rights and player access. SportBusiness Journal reports that much of the value comes in media rights from the LPGA’s new 10-year media rights deal with US cable channel Golf Channel, which begins next year.
