Wells Fargo set to exit as sponsor of Quail Hollow event

Wells Fargo will not continue as the title sponsor of the PGA Tour's event at Quail Hollow Club in Charlotte after the 2024 tournament.

The event has been known as the Wells Fargo Championship since 2011.

The banking giant issued a statement that read in part, "We are incredibly proud of the 20+ year history of the Championship. The tournament has generated significant local impact and delighted golf fans in Charlotte and across the country. Since 2003, the Wells Fargo Championship has generated more than $30 million in support of numerous charitable foundations."

The Wells Fargo Championship's prize pool jumped from $9 million last year to $20 million this year. The tournament will become a high-paying, limited-field "signature" event in 2024, with just 70-80 players entered. According to Sports Illustrated, the purse will remain $20 million in 2024, but the winner's share will jump from $3.6 million to $4 million.

The Charlotte tournament began as the Wachovia Championship from 2003-08, with Tiger Woods winning in 2007. It went by the name Quail Hollow Championship in 2009 and 2010 before Wells Fargo became the title sponsor.

Northern Ireland's Rory McIlroy won the event in 2010, 2015 and 2021, and Max Homa was the champion in 2019 and 2022. Wyndham Clark is the reigning champion, having posted an event-record 265 (19 under par) in May.

—Field Level Media