Professional domestic golf received a much-needed shot in the arm with Tata Steel coming in as the title-sponsor of the Professional Golf Tour of India (PGTI).
As per the agreement signed by Tata Steel’s vice-president Sanjiv Paul and PGTI CEO Uttam Singh Mundy here on Wednesday evening, the deal is for three years.
At present, Tata Steel is associated with the year-ending event that offers ₹1 crore in prize-money. Following the agreement, the title-sponsor of the Tour is, at least, expected to hold the year’s richest prize-money event in 2019.
Last year, the Take Solution-sponsored Jeev Milkha Singh Invitational event in Chandigarh offered ₹1.5 crore to be the biggest on the Tour.
Though the financial details of the deal were understandably kept under wraps by the stakeholders, Tata Steel could be expected to contribute significantly to domestic golf if its sustained support to football, archery, chess, etc., is anything to go by.
Without being very specific on the role of the sponsor, both Uttam and Sanjiv assured that the partnership would make several “value-additions” to the Tour, particularly to the players.
The domestic Tour includes around 20 events every year, with prize-money ranging from a low of ₹30 lakh to a high of ₹1.5 crore. Two events offer ₹1 crore each.
It remains to be seen if Tata Steel’s presence brings in a noticeable difference to the Tour this year.
