The European Tour has announced an extension of its long-standing partnership with BMW which will see the German car giant remain as a top-tier partner of the Tour up until 2018.
Under the new deal, BMW will continue its title sponsorship of three flagship events on the European Tour - the Professional Golfers' Association (PGA) Championship at Wentworth in England, the International Open in Germany and the Masters in China.
The firm will also continue in its role as official car to the European Tour and as a partner of the Ryder Cup.
The partnership was announced at BMW's Park Lane dealership in central London where chief executive of The European Tour, George O'Grady, shook hands on the new deal with Dr Ian Robertson, member of the Board of Management of BMW AG, sales and marketing.
"Ever since we began our relationship with BMW, they have been a strong and trusted partner," said O'Grady.
"This new agreement once again underlines the strength in our relationship and creates a platform for us to shape the future of The European Tour over the coming years.
"BMW's support not only of our flagship event at Wentworth, but also key events in Germany and China, further enhances The European Tour's strategy of expansion throughout the world and I am delighted that we have secured our partnership for a further four years."
Following the announcement, European Ryder Cup captain Paul McGinley of Ireland, England's reigning US Open champion Justin Rose and current BMW PGA champion Matteo Manassero took part in a special nearest-the-pin challenge at three specially created greens in nearby Hyde Park.
Manassero is getting ready to defend his title as the BMW PGA Championship gets underway at the Wentworth Golf Club on Thursday (May 22) and runs through until Sunday (May 25).
This will be the 60th edition of the event and the 10th time that BMW will act as the title sponsor since signing on in 2005.
"The fact that we are extending all these commitments to 2018 and that we have chosen to announce this next step in our joint success story here at the BMW PGA Championship only serves to underline the significance of this event," said Dr Robertson.
"It is a cornerstone of all our sponsorship commitments that we aim to create a special experience for everyone involved by highlighting BMW's premium philosophy, while striving for a relaxed and friendly atmosphere.
"I believe we have achieved this with noteworthy success in the world of golf."
In June, the Golf Club Gut Lärchenhof in Cologne will play host to the BMW International Open, where South African Ernie Els will be looking to defend his title, while Spaniard Gonzalo Fernandez-Castano will be defending his BMW Masters crown at Lake Malaren Golf Club in Shanghai from October 30 to November 2.
In addition, BMW will continue in its role as official car of the Ryder Cup, when the biennial match between defending champions Europe and the United States takes place at the Gleneagles Hotel in Scotland from September 26 to 28.
The announcement today sees BMW join Titleist, Rolex and Emirates as top-tier partners of The European Tour.
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