Honda Will Not Renew Title Sponsorship of the Honda Classic After 2023

The PGA Tour’s Honda Classic is getting a new name after it is played in 2023.

Ken Kennerly, the Executive Director Emeritus of the Honda Classic of 16 years, confirmed the news to Sports Illustrated. The tournament will adopt a new title sponsor in 2024, meaning that Honda will end its streak as the longest uninterrupted title sponsor on the PGA Tour.

“Honda has been a great partner and allowed the event to generate over $61 million to charity over the years,” Kennerly said. “The Tour and our team are focused on bringing in the next title for 2024 and beyond as Palm Beach County has enjoyed a great history of professional golf and will do so well into the future.”

Golfweek first reported the news on Thursday. The PGA Tour did not immediately respond to SI’s request for comment.

In 1982, Honda took over as the title sponsor of what was originally the Jackie Gleason Inverrary Classic. The event is currently played at the PGA National Resort & Spa Champion Course in Palm Beach County, Florida, in late February. The tournament is known for the treacherous stretch of holes called “The Bear Trap,” nicknamed after Jack Nicklaus—also known as the Golden Bear—who led a redesign of the host venue.

The title sponsorship change comes as the PGA Tour adopts a new calendar-year schedule for 2023, with a series of “elevated” events for top players and other new measures meant to counteract the draw of LIV Golf. The Honda Classic was not set to become one of the PGA Tour’s newest “elevated” events, which are set to feature $20 million prize money purses.