The sponsorship agreement begins in 2004. The Western Open, played in the Chicago suburb of Lemont, is the oldest event on the PGA Tour. The new name for the tournament was not immediately disclosed, nor were the financial terms of the deal. For comparison, Bank of America last year paid $30 million for a four-year sponsorship of the Colonial Classic in Texas.
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Lilly ICOS is a joint venture between Eli Lilly & Co. and ICOS Corp.
A representative from the PGA Tour declined to comment on the re-branded name for the tournament, while Eli Lilly in a statement said it would reveal additional details of the sponsorship, "including tournament identity," at a later date.
Eli Lilly did not return phone calls, but executives close to the deal said the Indianapolis-based company is in "catch-up mode" with Levitra.
Levitra's NFL deal
In May, Levitra signed a three-year, $18 million sponsorship deal with the National Football League that also includes an additional $10 million to $15 million in media buys. Former Chicago Bears and New Orleans Saints coach Mike Ditka will endorse Levitra in a series of print, radio and public service ads. Vigara, meanwhile, has a Major League Baseball sponsorship and sponsors a Nascar auto racing team.