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Saturday, March 6, 2021

Colonial tournament has a new name: Charles Schwab Challenge

Charles Schwab Challenge. That’s the new name for Fort Worth’s historic PGA tournament held annually at the Colonial Country Club.

On April 12 this year, financial services giant Charles Schwab was announced as the title sponsor for the event, in a four-year agreement beginning in 2019.

Traditionally hosted over Memorial Day weekend, the PGA event held at Colonial Country Club since 1946 is the tour’s longest-tenured tournament at a single venue. The dates for the 2019 Charles Schwab Challenge will be confirmed when the PGA officials announce the 2018-19 schedule.

“Greatness is achieved through challenge. Colonial has challenged the world’s greatest golfers for over three quarters of a century. The tournament title – Charles Schwab Challenge – certainly celebrates our long history of great competition,” said Rob Hood, Charles Schwab Challenge tournament chairman.

“As a tournament that is known to be played on a shotmaker’s course and one that has challenged the best players in the game for over 70 years, we wanted to pay homage to the tradition of the event as a challenger’s competition,” said Jonathan Craig, senior executive vice president, Charles Schwab & Co., Inc. “We’re a company that has challenged the status quo for investors since day one so being a part of this inspiring tournament gives us great pride.”

In September, Charles Schwab & Co. Inc., broke ground on a new Dallas-Fort Worth area campus at Circle T Ranch in Westlake where it expects to have about 2,600 employees.

The Charles Schwab Challenge is among the PGA leaders in charitable giving, including generating a record $13 million awarded to charities in 2018. The tournament has generated $100 million for more than 150 charitable organizations over the past two decades.

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