The PGA Tour of America has secured a last-minute sponsor for the San Diego Open, a tournament that begins on Thursday 28th January. Californian insurance firm Farmers Insurance Group of Companies has agreed a deal to title sponsor the event, an agreement which is being seen as an indication of golf’s struggles against the global economic downturn. It is highly unusual for a title deal to be struck so late.

Farmers Insurance replaces the previously prominent golf sponsor Buick, which withdrew from the Tour last year. Buick had been the sponsor of the San Diego event, which in 2010 has a purse of US$5.3 million, since 1992.

Tour commissioner Tim Finchem put a brave face on the deal when he said: “Although this has been finalised on such short notice, it represents a substantial investment on Farmers’ part to help in the tournament’s success.” He added that he would be discussing a possible extension to the deal with the company.

F. Robert Woudstra, the chief executive of Farmers, said: “Leaders step up and step in when opportunities arise and when needs are great. We clearly see this sponsorship as an extension of our ongoing commitment to Southern California, the San Diego area and all the communities across the United States in which we serve our customers.”