Mac Engel reports for the Star-Telegram on a likely early departure for Dean & DeLuca after two years sponsoring the historic Colonial. The food company has four years left on its contract.
Engel obtained a letter to members signed by club president Rob Doby.
“While certainly disappointing, it is not a situation that we as a Membership and Staff are unfamiliar with,” Doby wrote.
The board is scheduled to meet with Dean & DeLuca representatives as early as Thursday about potentially renegotiating the terms of the contract, but at this point the club is preparing to look elsewhere for a title sponsor.
A PGA Tour statement said the Dean & DeLuca is still the sponsor as far as they are concerned but that they are in conversations.
Engel shares several other interesting details, including this:
The PGA wants a little more than $11 million per year from a sponsor for this event, which, per multiple sources, effectively eliminates several companies from landing Colonial. The price tag is roughly $3 million too rich for many companies.
Losing a sponsorship here leaves two Texas stops searching for a sponsor as the 2017-18 schedule is already underway. The Houston Open has yet to secure a sponsor after Shell ended their long run.