The PGA Tour could be set to lose another long-running tournament sponsor, with reports suggesting that Farmers Insurance will not renew its deal when it expires in 2026.
The American-based insurance company has served as the title sponsor of the San Diego-based tournament since 2010, most recently signing a seven-year extension in 2018.
However, according to the Sports Business Journal, the company will not renew its deal when that contract expires ahead of the 2026 season.
It comes as the latest sponsor-related blow for the Tour after Wells Fargo confirmed in December last year that it would be ending their sponsorship of the Wells Fargo Championship at the end of next season.
In February last year, Honda also confirmed it would bring to an end its 42-year sponsorship of the Honda Classic following the 2023 tournament. IT services company Cognizant has since been named as the replacement title sponsor for the south-Florida-based tournament.
While Wells Fargo was said to still be keen to sponsor an event, reports suggest that the decision by Farmers Insurance is part of a wider decision to scale back its involvement with the sport to maintain the company's long-term profitably.
Last week at The Sentry, Rickie Fowler - a long-time partner with Farmers Insurance - confirmed that his deal with the company was not being renewed.
Max Homa is the defending champion of the Farmers Insurance Open, which is hosted at Torrey Pines South Course. The Californian won the event for the first time, with a two-shot victory over Keegan Bradley to claim his sixth PGA Tour victory.
As well as its sponsorship of the PGA Tour event, Farmers also sponsors the Advocates Pro Golf Association (APGA) event which takes place at the same venue.
The news comes just days after World No.2 Rory McIlroy warned that the game's elite players should give up their independent contractor status and commit to a schedule of events in order to keep sponsors on board.
"When you look at different sports and the media landscape and how much these media companies are paying for sporting events, I think you have to be able to guarantee them the product that they are paying for," the Northern Irishman said, speaking ahead of the Dubai Invitational.
"So in my opinion, yeah, I would say that people would have to be contracted and sign up to a certain number of events every year; that the sponsors and media partners know that the guys they want to be there are going to be.”
