Tiger Woods' golf tournament at Congressional Country Club is getting a new sponsor -- and a new name.
Quicken Loans is the new title sponsor of Woods' tournament, the PGA announced Monday. The sponsorship will last through 2017.
"It's been near and dear to my heart to have this event, and to have Quicken Loans come in as our partner is just incredible," Woods said at a press conference Monday.
The tournament helps fund Tiger Woods Foundation programs, including training centers to bring golf to young people and a learning center at Quantico. The tournament is also a tribute to the country's armed forces; Woods' father served in the Army Special Forces, and Monday Tiger remembered learning golf on military-base courses as a young golfer.
The tournament was founded at Congressional in 2007, but the club is now considering a proposal that would host it there in 2016, 2018 and 2020 -- leaving the tournament looking for a home in the alternating years.
Woods said he hoped to keep the tournament in D.C. and said Congressional, in particular, is close to his heart.
"What a storied golf course -- a U.S. Open site, and I've won there, so that helps. It will be exciting for us to have the tournament in the D.C. area, which is what we are trying to do. ... We'd like to keep it in the D.C. community. This is where we started with this event and certainly where we'd like to keep it. But there are always options out there and we are looking at all options now."
"This tournament was started in DC and we would like to keep it here," Woods continued.
"The stability of any tournament is based on the strength and committment of its sponsorship," said Tim Finchem, PGA Tour Commissioner. "When a company of this stature makes this kind of committment it sends a great signal that the PGA tour is the place to be, and in this case that the Tiger Woods Foundation is a great partner to have."
AT&T, which had been the title sponsor, will continue as a founding partner of the tournament. It will also become the sponsor of another PGA tournament, the Byron Nelson Championship in Dallas.
Quicken announced it would $30,000 to the Tiger Woods Foundation, the Troops First Foundation and the Iraq and Afghanistan Veterans of America as part of the deal.