RBC’s sponsorship of Canadian Open uncertain as Tour-PIF negotiations continue

HAMILTON, Ontario – Nowhere is the uncertainty that’s gripping professional golf more pressing than in Canada.

The Royal Bank of Canada, which has been the title sponsor of the Canadian Open since 2008, has indicated it will take a wait-and-see approach to renewing its sponsorship. RBC recently extended its title sponsorship of both the Canadian Open and Heritage for just one year through 2024.

RBC officials, like many title sponsors, are curious how a potential deal with Saudi Arabia’s Public Investment Fund and the PGA Tour’s move to a for-profit model will impact the professional game.

“We continue to have great conversations between RBC, the PGA Tour and Golf Canada,” said Laurence Applebaum, the CEO of Golf Canada which runs the Canadian Open. “We know that they [RBC] continue to be the most engaged partner for us in the golf space. They have been amazing partners, we’ve had an incredible week here, spent a lot of time together with both RBC and the PGA Tour and we know that those discussions will continue in real earnest.”

Tour Commissioner Jay Monahan was at Hamilton Golf & Country Club earlier this week meeting with players, including Rory McIlroy, and tournament officials.

The Canadian Open has been overshadowed the last two years, first in 2022 when it was played the same week as the first LIV Golf event in London, which prompted the Tour to suspended 17 players who had violated the circuit’s policies by participating in an “unauthorized event.”

The ’23 event was again overshadowed by the June 6 framework agreement between the Tour and PIF, which prompted one of the most contentious player meetings in recent history. The ’20 and ’21 Canadian Opens were not played due to the COVID-19 pandemic.

By comparison, this year’s event has been distraction-free, although the championship’s position on the schedule just a week before the Memorial, a signature event, followed by the U.S. Open and then the Travelers Championship, which is also a signature event, likely didn’t help the strength of field.