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The PGA TOUR and Web.com (Nasdaq:WWWW) announced a 10-year agreement whereby the company becomes the umbrella sponsor of the newly named Web.com Tour. As reported in yesterday’s Daily Pulse (RUMOR HAS IT) the Nationwide Tour was anticipated to

 see a new sponsor take over the naming rights. The Web.com umbrella sponsorship takes effect immediately with this week's United Leasing Championship at Victoria National Golf Club near Evansville, Ind., and extends through 2021. In addition to the umbrella sponsorship, Web.com will also become an Official Marketing Partner ofthe PGA TOUR, Web.com Tour and Champions Tour.

“This sponsorship is a perfect fit for us – Web.com is committed to helping small- and medium-sized businesses compete and succeed online, just as the Web.com Tour helps talented, dedicated athletes maximize their potential and fulfill their dreams,” said David L. Brown, Web.com's Chairman. “The Web.com brand will gain exceptional visibility as a result of our sponsorship of the Web.com Tour. In addition, we believe that the professionalism and competition of PGA TOUR golf resonates strongly with small- and medium-sized business owners, making the national and international exposure we achieve with this sponsorship an unparalleled opportunity to reach more of our target market.”

Nationwide Insurance sponsored the Tour since 2003 but decided to assume presenting sponsorship of its hometown PGA TOUR event, the Memorial Tournament, when that opportunity opened for the 2011 season. Under its existing agreement, it was prepared to fulfill its umbrella sponsorship of the Tour through this year before Web.com expressed interest in assuming the sponsorship immediately

“This sponsorship is a unique and powerful opportunity to elevate our brand on a highly desirable global platform,” Brown added, “but it also offers us deep, local exposure in the 27 markets where Web.com Tour events are currently staged as well as access to other markets where the PGA TOUR and the Champions Tour have forged strong ties. We intend to actively engage in those communities and use our expertise to help local businesses and organizations succeed online.”