The Kingsmill Championship took a step in the right financial direction Tuesday, even as the LPGA tournament in Williamsburg continues its search for a title sponsor.
JTBC, South Korea's leading broadcast company, paid what a tournament spokesman confirmed was a six-figure sum to be the event's presenting sponsor, which is typically considered a step below title sponsorship.
A tournament spokesman provided few specifics but said the deal could run the length of the tournament's four-year agreement with Kingsmill, and JTBC's involvement could someday become title sponsorship.
Tournament organizers have been seeking a title sponsor since 2009, when Anheuser-Busch dropped out. Xanterra, Kingsmill Resort's Colorado-based parent company, has footed the majority of the bill since the event was revived in 2012. Last year's tournament paid out $1.3 million in prize money.
Wayne Nooe, the tournament's executive director, said in a statement from Kingsmill that the partnership would "elevate the international presence of the championship, as well as maintain the growing momentum of the tournament's awareness."
The event, which will take place May 12-18, will be broadcast on JTBC's network throughout Korea.
The partnership with JTBC comes on the heels of the LPGA's multi-year contract extension with J Golf, the exclusive Korean television partner of the association. J Golf is operated by JTBC.
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