Goldman Sachs reveals its very first sports recommendation with PGA Tour

Goldman Sachs announces its first sports endorsement with PGA Tour

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Patrick Cantlay of the United States plays his shot from the 18th tee throughout the last round of the Workday Charity Open on July 12, 2020 at Muirfield Village Golf Club in Dublin, Ohio.

Sam Greenwood | Getty Images

In its very first relocation getting in the sports recommendation world, monetary empire Goldman Sachs will sponsor PGA Tour golf player Patrick Cantlay and let loose a series of TELEVISION ads throughout this weekend’s Memorial Tournament, the business informed CNBC Monday.

Cantlay, 28, signed with Goldman Sachs for multi-year offer and will sport the bank’s logo design on his clothes throughout occasions as part of the sponsorship. The company did not expose the contract’s monetary terms however stated it wishes to reach a long-lasting extension with Cantlay in the future.

“Ultimately, the combination of what he does on the course and what we do off the course we thought was a great partnership,” stated Dustin Cohn, head of brand name marketing for the Consumer and Investment Management Division at Goldman Sachs.

Cohn explained Cantlay as “a young up and comer who has a bright future ahead of him. And we’re a young up and comer as well, and we also take our craft very seriously.”

Cantlay, who won in 2015’s Memorial, will chase this weekend’s title to be the 2nd repeat winner of the occasion, signing up with Tiger Woods (1999-2001).

“We’re leveraging that to debut our new ad on CBS,” Cohn stated.

Goldman’s TELEVISION advertisement will include Cantlay at age 4 playing golf with his daddy, Steve, and consist of a six-page letter his daddy composed to Cantlay on his very first day as a PGA Tour golf player. According to Cohn, the advertisement intends to reveal what “support means to people and how this is a good example of how success starts with the right support.”

Cantlay will assist the company construct brand name awareness for its just recently released Marcus by Goldman Sachs mobile app. The company prepares for the app to one day work as the shop and one-stop look for a selection of digital banking services.

Cohn stated that Goldman is “exploring our options across different sports, and different athletes” as the company will aim to include other professional athletes to its sponsorship portfolio.

Currently ranked tenth on the planet, Cantlay, who will be chasing his 3rd profession PGA Tour win, has actually up until now built up an overall of $1,786,331 in 7 occasions played this year. Last year he made $6,121,488 in 21 occasions, consisting of a win at the Memorial, the competition established by golf legend Jack Nicklaus.

Cantlay stated he’s still getting used to life playing the sport throughout Covid-19. The PGA Tour went back to use June 11 for the Charles Schwab Challenge.

“It’s weird playing for something that seemingly is so important with no one around,” Cantlay stated. “It’s sad to hit a really nice shot and have no one around you to celebrate. You just hear crickets.”

PGA Tour authorities just recently changed its health and wellness procedures to enables golf enthusiasts who check favorable for Covid-19 to return much faster, supplied they reveal no signs and test unfavorable for 72 hours.

The Memorial is arranged for July 16 to July 19 at Muirfield Village Golf Club in Ohio.

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