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Business

What bang does Wells Fargo get for $7 million bucks?

http://66.225.205.104/Robert Roundtree EDIT.mp3

The first round of Charlotte's Quail Hollow Championship starts this morning. Just two years ago it was called the Wachovia Championship. Wells Fargo gained sponsorship rights to the PGA tournament with its acquisition of Wachovia, but it's hard to tell. After all, Wells Fargo has yet to put its name on the tournament even though it pays a sponsorship tab of about $7 million a year.

Wells Fargo was one of many banks that backed away from sports marketing last year in the wake of backlash over government bailouts. But UNC Charlotte sports marketing professor Robert Roundtree says the bank still gets some benefits from its sponsorship.