Charlotte's PGA Tour event is now called the Truist Championship

Charlotte's annual PGA Tour event is now called the Truist Championship.

Why it matters: The Charlotte-based bank's seven-year deal as the event's new title sponsor runs through 2031 and ensures Charlotte remains a regular home for top-tier golf .

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Catch up quick: The PGA Tour event in Charlotte began in 2003 as the Wachovia Championship. After a brief stint as the Quail Hollow Championship, it became the Wells Fargo Championship, reflecting Wells Fargo's 2008 acquisition of Wachovia.

• Wells Fargo announced in December it would not renew its title sponsorship of the tournament.

Between the lines: Elite golf has long been a staple on the city's sporting and social calendar at Quail Hollow Club in south Charlotte. It hosted the PGA Championship in 2017 and the Presidents Cup in 2022.

• Quail Hollow Club will host the PGA Championship May 12-18, 2025, meaning the Truist Championship will take place May 5-11 at Philadelphia Cricket Club's Wissahickon Course before it heads to Charlotte for its first year under the new title sponsor in 2026.

Zoom in: Since 2019 when SunTrust merged with BB&T to create Truist, the bank has been considering getting a "stake in the ground," Truist Chairman and CEO Bill Rogers told reporters.

• Truist Championship will still have a strong local vendor presence, Rogers says, something the Wells Fargo Championship highlighted in recent years with a small business market .
• Truist will be a "highly engaged hometown sponsor," Rogers said, adding that they are developing a community advisory committee.

Truist Chairman and CEO Bill Rogers announces the Truist Championship in Uptown. Photo: Ashley Mahoney/Axios

State of play: The PGA Tour's Championship Management will operate Truist Championship, which had been operated by Florida-based Pro Link Sports since 2018, SBJ reported . Championship Management also operates Presidents Cup.

• Truist Championship is one of the PGA Tour's eight Signature Events and will remain so for the life of the deal, PGA Tour Commissioner Jay Monahan confirmed to reporters.

What's next: Tickets for the Truist Championship will go on sale later this year at TruistChampionship.com

What they're saying: "While we continue to prepare for next year's PGA Championship, we also look forward to 2026 when the club and community turn the page to the next chapter of professional golf in the Queen City," Quail Hollow Club president and longtime Charlotte developer Johnny Harris said in a statement.

Quail Hollow Club was designed in 1961 by golf course architect George Cobb. It also hosted the Kemper Open from 1969-1979. Photo: Ashley Mahoney/Axios