PONTE VEDRA BEACH, Fla. -- FedEx will continue to sponsor the PGA Tour's season-long points race with a 10-year extension of the current agreement, commissioner Jay Monahan announced Tuesday.
The deal was set to expire at the end of this season but will now run through 2026-27.
"I couldn't be happier for our players," Monahan said. "It's a great day for the PGA Tour and our players. To know that you're in business with one of the greatest companies on the planet on a long-term basis is something that I think is a great testament to our players."
Called the FedEx Cup, the points race concludes at the Tour Championship in Atlanta, with the winner awarded a $10 million bonus on top of prize money earned. The total compensation awarded by FedEx under the bonus structure is $35 million annually, with payouts made through the 150th finisher in the standings.
The FedEx Cup began in 2007 and gave the PGA Tour a culmination to its season with a four-tournament playoff series. Players qualify by earning points each week, with the top 125 making it to the playoffs and the fields whittled down to the top 30 at the Tour Championship.
Tiger Woods is a two-time winner of the FedEx Cup, and others to win the top prize have been Vijay Singh, Jim Furyk, Bill Haas, Brandt Snedeker, Henrik Stenson, Billy Horschel, Jordan Spieth and Rory McIlroy, who clinched the title in September when he defeated Ryan Moore in a playoff to win the Tour Championship.
"As we go forward, we expect the Cup and the payout to increase significantly," Monahan said, although specifics and a timeline were not offered.
The initial deal was for six years followed by a five-year extension through this season. The entities have been discussing a renewal for months and timed the announcement in conjunction with this week's Players Championship at PGA Tour headquarters.
To be determined is whether the playoffs will be reduced from four events to three, as the event held at TPC-Boston has just a one-year sponsorship agreement with Dell Technologies.
Also to be determined is whether the FedEx Cup playoffs will conclude before Labor Day in future years, a possibility that exists if numerous other obstacles are cleared, including moving the Players Championship to March and having the PGA Championship take its place in May.
"There is some exciting potential when you look at the schedule and other things, but I don't know what the best answer will be yet, and that's why we are so fortunate that we have a close collaborative working relationship with the tour, and they have a very clear view of some potential things that could change and how that would affect things," said Patrick Fitzgerald, a senior vice president for FedEx. "So I'm confident that if the schedule changes, it will be in the best interest of golf and of the FedEx Cup."
The reason most often cited for ending the PGA Tour season earlier is so the biggest playoff events do not conflict with college and NFL football.
FedEx is a longtime PGA Tour sponsor, going back to its association with the tour stop in Memphis, Tennessee, called the FedEx-St. Jude Classic, which began in 1985.
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