Truist Championship tallies local impact

CHARLOTTE — In August 2024, Truist Financial Corp. (NYSE: TFC) staged a splashy press conference at its Uptown headquarters. Then-PGA Tour Commissioner Jay Monahan and Quail Hollow Club president Johnny Harris were among the VIPs who joined Truist CEO Bill Rogers to unveil the bank’s newly signed $200 million deal to serve as title sponsor of Charlotte’s golf tournament.

That day, Rogers, who shifted to executive chairman this year, vowed several times to make sure that the newly named Truist Championship would become more than a week-long PGA Tour event. Instead, he said, the bank, the club and tournament leaders would work together to create and highlight community investments and philanthropy year-round.

In an accompanying statement, the bank pledged to capitalize on its investment with the PGA Tour to create business networking opportunities, community experiences and programming to support the region.

The first Truist Championship at Quail Hollow, played in May, broke all previous hospitality and ticket revenue records. Around tournament week, Truist and major sponsors Atrium Health and Hendrick Automotive Group joined the PGA Tour in tie-in charitable events and gifts, standard for most sporting events.

But it’s the off-season that stands out: In August, women’s golf teams from across the region participated in a two-day opportunity and access golf and networking events with executives from tournament sponsors at Quail Hollow. The event will be held annually, with various beneficiaries and participants.

Over the past two weeks, the Truist Championship’s tournament staff, who are all PGA Tour employees, have introduced what is planned to be an annual community impact report to highlight small business and charitable efforts.

As for their first Charlotte impact report card? Highlights include:

• Overall economic impact of $132.8 million, as determined by industry consultant Eventcore in a study commissioned by the PGA Tour
• Direct spending of $22.9 million by fans, organizers and sponsors throughout tournament week on hotel rooms, restaurant meals, bar tabs and other travel expenses
• $7.3 million in community impact, including investments with 70 small businesses who provided goods and services to the tournament, $2.6 million worth of charitable impact and $2.25 million raised by area nonprofits through a tournament-aligned fundraising contest. The latter program, Birdies for Better, helped 133 nonprofits raise money, led by Safe House Project, a nonprofit dedicated to ending human sex trafficking that raised $600,000, accounting for more than a quarter of all money raised

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