PONTE VEDRA BEACH, Fla. - The PGA TOUR and Allianz Life (the U.S. life subsidiary of the Allianz Group), a leading provider of annuities, life and health coverage, have announced a two-year agreement whereby Allianz becomes the presenting sponsor of the West Coast Swing beginning in 2005.
The West Coast Swing presented by Allianz encompasses the first nine tournaments of the season and offers a $1 million bonus pool that is divided among the top three West Coast performers, as determined by a points system. The winner receives $500,000 while the runner-up receives $300,000 and the third-place finisher $200,000.
Points are awarded for top-10 finishes in the nine tournaments, with 100 points for a victory down to 10 points for a 10th-place finish. Phil Mickelson, the winner of the inaugural competition in 1998, also won this year's title. Other winners have been Mike Weir (2003), Chris DiMarco (2002), Davis Love III (2001) and Tiger Woods (2000 and 1999).
"This West Coast Swing competition has become an important element of our early schedule, lending an extra level of interest and excitement for our players and fans," said Tom Wade, Chief Marketing Officer for the PGA TOUR. "We are extremely pleased to announce Allianz Life's sponsorship of this program and we look forward to the program's continued success with Allianz Life's involvement."
"The sponsorship of the PGA TOUR's West Coast Swing is a great fit for Allianz Life and our efforts to extend the Allianz brand to a large and targeted audience of potential customers," said Mark Zesbaugh, Allianz Life President and CEO. "We could not be more pleased with our long-standing partnership with the PGA TOUR. This sponsorship is a complement to our existing sponsorships of some great TOUR professionals and our Champions Tour event, the Allianz Championship."
Allianz Life has been the title sponsor of the Champions Tour's tournament in Des Moines, IA, since its inception in 2001, and also has endorsement deals with several PGA TOUR and Champions Tour players.
About Allianz Life Insurance Company of North America
Allianz Life Insurance Company of North America (Allianz Life) is a leading provider of fixed and variable annuities and life policies, as well as long term care products, in the U.S. Allianz Life is also a major provider of health excess of loss services. Allianz Life is one of the primary companies of the Allianz Group ? the 11th largest corporation in the world (Fortune, 2004). Allianz Group is represented with 700 subsidiaries in over 70 countries around the globe, and employs 175,000 people worldwide. Founded in 1896, Allianz Life is based in Minneapolis, MN. Allianz Life's Web site address is www.allianzlife.com.
About the PGA TOUR
The PGA TOUR is a tax-exempt membership organization of professional golfers. Its primary purpose is to provide competitive earnings opportunities for past, current and future members of the PGA TOUR, Champions Tour and Nationwide Tour; to protect the integrity of the game; and to help grow the reach of the game in the U.S. and around the world.
Approximately 110 events are being contested on the three Tours in 2004, for nearly $310 million in prize money. In addition to providing competitive opportunities for its membership, TOUR events also generate significant sums of money for charity. TOUR events have raised more than $820 million for charity since 1938, the first year such records were kept. The PGA TOUR's Web site address is www.pgatour.com.
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