The European Tour and Volvo are pleased to announce an extension to their partnership, first established in 1988, through to and including the 2002 season.
This extension for a further three years to the existing contract secures Volvo’s annual sponsorships of the Volvo PGA Championship, the Volvo Scandinavian Masters and the Volvo Masters.
In addition the extension will include the Volvo Order of Merit (previously titled Volvo Ranking) with Volvo remaining “Official Car” to the European Tour.
Two new elements within the contract, which will commence in 1999, allow for the creation of a specific Volvo Bonus Pool, based on all three Volvo Tournaments, and for Volvo to become the Official Car for the American Express World Championships at Valderrama in November, 1999.
Mel Pyatt, President and CEO of Volvo Event Management, said: “Over the past 12 years Volvo has built up tremendous equity in European golf and a great partnership with the European Tour. Our common aim has always been to raise the profile and quality standards within European golf as a whole, and we believe that has been substantially achieved.
“Over the next four years, therefore, it is our intention to maximise the benefits of our investment by concentrating on the existing programme, but with the focus directed towards our own Volvo tournaments. Our goal will continue to be that Volvo tournaments are universally recognised as the leading events of their kind, with the emphasis clearly based on quality, customer service and business opportunities.”
Ken Schofield, Executive Director of the European Tour, said: “The extension of the Tour’s sponsorship agreement with Volvo through to the end of 2002 is genuine confirmation of the special partnership and long term relationship that exists between Volvo and European golf.
“Volvo’s commitment to quality and excellence in every aspect of their business has been a major driving force in the development of the European Tour and we continue to be sincerely appreciative of their support.”
