The biggest tour in women’s golf is looking to appoint strategic advisers to drive greater investment, boosted by KPMG renewing its commitment to the sport.
Increased commercial interest is already helping the Ladies Professional Golf Association (LPGA), which runs the biggest professional tour, to raise prize money for its competitions to US$116m this year, up from US$101.4m in 2023.
‘The arrangement is more of a mission than a sponsorship’
Superstar players including Nelly Korda are boosting the profile of the women’s tour, but there is a long way to go. Prize money for the men’s PGA Tour this year stands almost four times higher, at US$398.9m.
Since the pandemic, the number of women playing the game has risen sharply, especially in the US, the sport’s biggest market. According to the National Golf Foundation, 6.4 million women now play golf in the US – making up approximately a quarter of all golf players. However, Mollie Marcoux Samaan, the LPGA commissioner, says the women’s game is being held back commercially by a lack of broadcast exposure and investment.
On a mission
As the countdown to the KPMG Women’s PGA Championships closes – hosted at the Sahalee Country Club, Washington, from 20-23 June – the Big Four firm has recommitted to its title sponsorship through to 2028.
The tournament is one of the five major championships on the LPGA Tour, and KPMG has been the title sponsor since the 2015 tournament. The current deal will extend the relationship to 14 years. The deal was previously extended in 2017.
‘The purses of majors in the past nine years have doubled’
While the financial terms of the latest deal are not in the public domain, KPMG national sports industry leader Shawn Quill calls the sponsorship ‘more of a mission than a sponsorship’ for the firm. ‘The partnership is about elevating women’s golf and providing the opportunities to these female athletes that they deserve,’ he says.
As part of the deal, KPMG is making a ‘continued commitment’ to raising the tournament purse, increasing TV hours and creating ‘other ways to engage with the experience from a fan perspective’. The purse for the event is a record US$10m this year, compared to US$2.25m in KPMG’s first year of sponsorship.
KPMG doesn’t just sponsor the tournament, it also backs US professional golfers Stacy Lewis and Mariah Stackhouse, as well as Leona Maguire (Ireland) and Yuka Saso (Japan) as brand ambassadors. The firm is also the official data and analytics adviser of the LPGA Tour, providing shot-level data and advanced performance analytics via KPMG Performance Insights.
The sponsorship extension by KPMG significantly strengthens the position of the biggest events in women’s golf, specifically the majors. AIG has signed to the Women’s Open to 2030, Chevron signed on for the Chevron Championship through to 2027, while Amundi is sponsoring the Evian Championship through to 2025.
KPMG US chair and CEO Paul Knopp, says: ‘The purses of majors in the past nine years have doubled and the rest [of the tournaments on the LPGA Tour] have almost doubled. And we’re seeing more women’s events played on these major, historic courses.’
Reaching the summit
A key element of the deal is that it also extends the future of the KPMG Women’s Leadership Summit, which is held on site during the golf tournament. Now in its 10th edition, the summit promotes the development, advancement and empowerment of women on and off the golf course.
This year’s event brings together leading women in business, politics and sports with women leaders who aspire to reach the C-suite and inspire others. Geena Davis, Oscar-winning actor, and founder and chair of the Geena Davis Institute, will serve as the closing keynote speaker.
‘Of the past attendees, 69% have been promoted since attending the KPMG Women’s Leadership Summit’
‘Change requires intentionality,’ says Knopp. ‘For the past decade, the KPMG Women’s Leadership Summit has aimed to shift the make-up of corporate leadership in America by supporting and empowering women to ascend to the top executive positions.
‘Of the past attendees, 69% have been promoted since attending the KPMG Women’s Leadership Summit, including 38% to the C-Suite in leading organisations across the country. We celebrate these women and the progress made while committing to the work ahead of us to further increase representation in the C-suite.’
Last year’s speakers included former US secretary of state Condoleezza Rice and Allyson Felix, the most decorated track and field Olympian in US history, who was also awarded the 2023 KPMG Inspire Greatness Award. Around 300 senior female executives attend, nominated by their CEOs. Women who have come to the summit over the years have been promoted at a rate of more than 50%, with over 20% going on to the C-suite.
While it is recognised that there is plenty more work to be done, KPMG’s continued commitment to moving the needle with regards to both women’s golf and their business agenda is to be applauded.
Sport and leadership
KPMG Women’s Leadership Summit is not alone in supporting women. There are more than 20 summits across the LPGA Tour, including the seventh Canadian Pacific Kansas City Women’s Leadership Summit (23 July). This event brings together leaders across business and sports, with speakers contributing perspectives about diversity of thought and women in leadership.
The Dana Open in Ohio will also feature a Women’s Leadership Summit (20 June), which focuses on the women of Toledo and its communities of need. This year’s keynote speaker is Reshma Saujani, founder of Girls Who Code, and founder and CEO of Moms First.
