Charles Schwab extends Colonial sponsorship to 2026 as new top prize is unveiled
In the fall of 2017, the thought of Colonial Country Club hosting a PGA Tour event months later the following spring was on life support.
Former title sponsor Dean & DeLuca bailed prematurely 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. The tournament needed a title sponsor and eventually found one in Charles Schwab. Schwab saved the tournament when it agreed to become its title sponsor starting in 2019.
The initial four-year agreement has now been extended through 2026. Charles Schwab and the PGA Tour announced the news on Tuesday.
“They couldn’t be a better title sponsor,” said Jim Whitten, Colonial’s tournament committee chairman. “You could look at every title sponsor across the country and you’d pick them out first. They’re engaged. They’re involved. When they came in, it was a blessing.
“We needed a title sponsor because we were on life support. We wouldn’t have been able to run that event for another year on its own. No chance.”
Charles Schwab, which is now headquartered in Westlake, has been 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 1973 Dodge Challenger.
Kevin Na won that year’s tournament and gave the car to his caddie Kenny Harms.
The 2020 event marked the return to golf following the PGA Tour’s 91-day break early on in the COVID-19 pandemic. Fans will return to this year’s tournament and Schwab unveiled this year’s champion’s prize on Tuesday — a 1946 Schwab Power Wagon.
Charles Schwab himself was on hand at the ceremony, saying in jest — we think — that it’s a $1 million truck.
At the end of the day, it was a signature day for the tournament with the title sponsorship extension and the new champion’s prize.
“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,” Charles Schwab senior executive vice president Jonathan Craig said in a news release. “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.”
Colonial is celebrating its 75th anniversary. The tournament starts on Thursday.
