Cognizant expected to become new title sponsor for Honda Classic

The Palm Beach County golf tournament formerly known as the Honda Classic is on the verge of securing a new title sponsor.

Cognizant, an information technology services and consulting company, is in deep discussions with the PGA Tour to become the title sponsor for the event currently known as The Classic in The Palm Beaches, the Palm Beach Post confirmed. Golfweek first reported the story.

A new sponsor would secure the long-term future of the tournament, according to the PGA Tour. The tournament has drawn top-ranked players like Tiger Woods, Brooks Koepka and Rory McIlroy and attracts massive crowds. It has been played at PGA National Resort in Palm Beach Gardens since 2007.

Cognizant, headquartered in Teaneck, New Jersey, is a global partner of the Presidents Cup and a title partner of the LPGA Tour’s Founders Cup. The company has 66 office and retail locations throughout the U.S. Its only office in Florida is in Tampa.

A multi-year deal is close to being finalized and will include a discount for the first year, according to Golfweek. Local officials said they will not comment until a contract is signed.

Additionally, the PGA Tour’s Championship Management division will be taking over control of the event, which has been run by IMG since 2013. The contracts of the host organization and title sponsor typically run hand in hand, so the timing was right for the Tour’s management division to assume operations of the tournament.

“For fans and the community, the long-term future of The Classic in The Palm Beaches — one of the premier sports and entertainment events in the region — is secure,” the PGA Tour said in a statement to The Palm Beach Post.

“The PGA Tour is in the final stages of securing a title sponsor and transitioning operators, where the longstanding commitment to charitable giving — working closely with Children’s Health Care Charity, Inc., will remain a pillar of the event,” the statement continued. “We look forward to presenting the best version of the PGA Tour’s South Florida event in 2024.”

The Tour’s Championship Management division manages a number of Tour events including the Players Championship at TPC Sawgrass, the Presidents Cup and the Tour Championship.

As for the former Honda Classic, no major changes other than the title sponsor are expected. The event, scheduled for Feb. 29-March 3, will remain at PGA National and the Nicklaus Children’s Health Care Foundation will remain the primary charitable beneficiary, which it has been since 2007.

“This event has been a staple in South Florida for 50 years, including the last 20 years in Palm Beach County, where it has made an incredible impact on local charities,” Jack and Barbara Nicklaus said in a statement to the Post.

“We are happy to hear that there will be a continued commitment to helping countless important causes, including our Nicklaus Children’s Health Care Foundation.”

Through the tournament, a record $7.2 million was distributed to more than 100…