Shell Oil Company is ending its sponsorship of the Houston Open golf tournament after 24 years.
The company said Wednesday that it has notified the PGA Tour and the Houston Golf Association that it will not continue as title sponsor of the Shell Houston Open beyond the 2017 tournament.
Shell has sponsored the tournament since 1992.
“We very much appreciate the efforts the HGA and PGA TOUR have undertaken to support our brands throughout our fruitful quarter-century plus partnership,” Shell Oil president Bruce Culpepper said.
The company did not disclose how much its title sponsorship cost per year.
Since it was first organized by the Houston Golf Association in 1946, the tournament has generated $64 million for local charities and youth programs.
More than $60 million of that amount was raised after Shell Oil became the event’s title sponsor.
The Shell Houston Open generates an estimated $25 million to $30 million in economic impact for the Greater Houston area per year.
“Shell has been a tremendous partner to the Houston Golf Association and while this phase in our partnership is coming to a close, our work together has created the best foundation we’ve had in the 70-year history of our professional golf event,” President and CEO of the Houston Golf Association Steve Timms said.
The PGA Tour said it will work closely with the HGA to begin the search for a new title sponsor immediately.
The Shell Houston Open is the tenth oldest tournament on the PGA tour.
The 2017 Shell Houston Open will run from March 27 to April 2 at the Golf Club of Houston.