The Colonial hosting a PGA Tour event almost went away close to four years ago.
Former title sponsor Dean & DeLuca bailed in October 2017, leaving the tournament scrambling to stay alive in 2018. The tournament managed to do so by with the help of several local companies, including AT&T, American Airlines, XTO and BNSF Railways, for what was called the Fort Worth Invitational.
That wasn’t a permanent solution, though. Charles Schwab eventually saved the tournament when it agreed to become its title sponsor starting in 2019.
The original contract called for a five-year agreement and now it’s been extended through 2026. Charles Schwab and the PGA Tour announced the news on Tuesday.
“This tournament has such a significant place in golf — and Texas — history and Charles Schwab is honored to help continue its tradition during this historic 75th anniversary year — and now proudly through 2026,” said Jonathan Craig, senior executive vice president, investor services and marketing at Charles Schwab. “The tournament has long held a deeper meaning given its history and is so important to the Metroplex community where our firm has a proud history and deep footprint of its own. We are honored to further our commitment to Colonial, its fans, and the Dallas-Fort Worth region, and as title sponsor, bring continued stability to this storied event.”
Charles Schwab has been roundly praised for its commitment and involvement in helping keep the tournament a staple on the North Texas sports calendar. The inaugural event in 2019 saw Schwab add to the winner’s prize by giving them a one-of-a-kind restored vehicle.
Kevin Na won that year’s tournament and gave the car to his caddie.
The 2020 event marked the return to golf following the PGA Tour’s break early on in the COVID-19 pandemic. Fans will return to this year’s tournament and Schwab is set to announce another custom champion’s prize this afternoon.
“Charles Schwab has been an extraordinary partner of the PGA TOUR and PGA TOUR Champions since 1997, and we saw the strength of that relationship last summer when they raised their hands in volunteering to be the first event back in our return to golf,” PGA Tour executive Tyler Dennis said in a statement. “With today’s news, we are extremely thankful for their support through 2026 and their continued commitment in making a significant charitable impact in the greater Fort Worth community and across North Texas.”