PONTE VEDRA BEACH, FL and CHARLOTTE, N.C., January 29, 2007 - The PGA TOUR and LendingTree.com have entered into a multi-year official marketing partnership whereby the nation’s leading online lending exchange receives exclusive designation as the “Official Mortgage and Home Lending Partner of the PGA TOUR and Champions Tour.”
This marks the first significant sports sponsorship for LendingTree.com, which plans to leverage the relationship through an integrated consumer promotion that offers PGA TOUR-related rewards to consumers. Beginning in March, those who start their loan request from a unique LendingTree/PGA TOUR web site may be eligible to receive PGA TOUR rewards after closing on a refinance, purchase mortgage or home equity loan.
“LendingTree is excited to be an official partner of the PGA TOUR,” said Bob Harris, chief marketing officer, LendingTree.com. “The level of competition on the PGA TOUR and the passion of PGA TOUR fans is a great fit for LendingTree and our belief that when ‘When Banks Compete, You Win.’”
“We are extremely pleased to announce this partnership with such a dynamic, fast-growing company, and proud that LendingTree has selected the PGA TOUR for its first major venture into sports sponsorship,” said Tom Wade, Chief Marketing Officer for the PGA TOUR. “We are particularly excited about the level of activation LendingTree is pursuing through the consumer program in order to reach an important demographic audience for its business.”
The LendingTree promotion will launch in March. Based on the amount of the loan, customers will have the choice of receiving dollar credit through the TOUR’s new e-commerce site on PGATOUR.com, or credit for multiple rounds of golf through the PGA TOUR Ticket to Golf!, a PGA TOUR-branded, pre-paid ticket that provides access to more than 2,000 golf courses throughout the country.
The promotion will be supported through network and cable television advertising, as well as on PGATOUR.com and advertising in select publications. Mullen, LendingTree.com's advertising, media and sports marketing agency negotiated the PGA TOUR two-year partnership and will manage activation of the relationship.
About LendingTree, LLC
LendingTree, LLC is the nation’s number one online lending exchange, providing a marketplace that connects consumers with multiple lenders that compete for their business. Since inception, LendingTree has facilitated more than 20 million loan requests and $152 billion in closed loan transactions. LendingTree provides access to mortgages and refinance loans, home equity loans/lines of credit, auto loans, personal loans, and credit cards via www.lendingtree.com and 800-555-TREE.
Launched in 1998 with headquarters in Charlotte, North Carolina, LendingTree, LLC is part of IAC Financial Services and Real Estate, an operating company of IAC (NASDAQ: IACI), which also owns or operates LendingTree Loans sm, LendingTree Settlement Services, LLC, GetSmart®, RealEstate.comsm, Domania®, and iNest Realty, Inc.
About the PGA TOUR
The PGA TOUR is a tax-exempt membership organization of professional golfers. Its primary purpose is to provide competitive earnings opportunities for past, current and future members of the PGA TOUR, Champions Tour and Nationwide Tour; to protect the integrity of the game; and to help grow the reach of the game in the U.S. and around the world.
In 2007, the three Tours will compete in approximately 110 events for approximately $340 million in prize money. Tournaments are being held in six countries outside the U.S. and in 36 states.
In addition to providing competitive opportunities for its membership, TOUR events also generate significant funds for local charities. In fact, the three Tours have surpassed the $1 billion mark in overall charitable contributions. The PGA TOUR's web site address is www.pgatour.com and the company is headquartered in Ponte Vedra Beach, FL.