Sponsorship remains key in supporting the Open in maintaining its status as one of the most prestigious golf events in the world. These partnerships ensure that the Open is receiving global recognition from some of the biggest luxury brands around, while also allowing the brands partnering with it to take advantage of the exposure that comes with such a high-quality event. For 2023, the Open generated more than $63 million in sponsorship revenue from only 13 brands, according to GlobalData, a leading data and analytics company.

GlobalData’s latest report, “The Open 2023 – Post Event Analysis” reveals that in 2023, the event’s large sponsorship revenue is topped by its deal with Rolex, worth $8 million annually. In return, Rolex serves as the official timekeeper of the event, with the luxury watch brand’s involvement in professional golf lasting over 40 years.

Joe Pacinella, Sport Analyst at GlobalData, comments: “The Open’s deals with Rolex and MasterCard offer a huge source of revenue for the tournament and resonate with fans, as many golf fans symbolize the Open with luxury and high-quality ambiance, which is the exact theme of the Rolex brand. Rolex and MasterCard are the top two deals with the Open. The credit card company’s deal was worth $6.75 million a year.”

MasterCard serves as the official card of the Open, in a deal worth $6.75 million on a one-year deal. The brand has partnered with the event since 2012, supporting the Open with its sustainability initiatives by attempting to plant or restore 100 million trees by 2025.

Deals with NTT, Nikon, Mercedes-Benz, and HSBC also offer a huge source of revenue for the Open, all worth $6 million annually, and will provide solid foundations for the Open’s operations.

Pacinella adds: “Mercedes-Benz has a $6 million-a-year deal to sponsor the Open and serve as the official patron vehicle of the tournament, while also providing transportation for staff and golfers during the event. The German car brand is promoting the use of electric vehicles and has done so at the Open 2023, synergizing with the tournament’s sustainability initiatives and illustrating the correct brand fit for the event.”

Brand logos were noticed across the four days at the Open, with the average attendance for this year’s event predicted to be 260,000 across the duration of the tournament, with fans paying from $355 to $1,900 for certain packages, evidencing the lucrative nature of the golf major.

Pacinella concludes: “Over 50% of the Open’s 13 deals are worth over $5 million annually, highlighting the high price for brands to partner with the tournament and demonstrating how worthwhile the exposure is. This is also proven by the TV audience numbers during the final round, which saw 3.35 million viewers tune in on NBC in the US, despite being lower than previous years.”