AVONDALE, La. (AP) — The PGA Tour has locked up Zurich Insurance as the sponsor of its only two-man team event through 2030.

Wednesday’s announcement came on the eve of Thursday’s first round of the Zurich Classic. The length of the deal corresponds to the remaining years on the PGA Tour’s television broadcast rights contracts.

Zurich has sponsored the tour’s New Orleans-area event since 2005, the first year the tournament was held at the Pete Dye-designed TPC Louisiana, and just months before Hurricane Katrina flooded much of the area.

A number of Zurich’s charitable endeavors in the years following the storm focused on the area’s recovery from widespread destruction.

The Zurich Classic was an individual event until 2017, when it became the only team event to offer FedEx Cup points.

PGA Tour's Zurich Classic extends title sponsorship through 2030 | iNFOnews.ca — FILE – Shane Lowry tees off on the first hole during the third round of the Zurich Classic golf tournament at TPC Louisiana in Avondale, La., Saturday, April 27, 2024. (AP Photo/Matthew Hinton, File)

“Our connection to this resilient city runs deep, and the Zurich Classic of New Orleans has supported that resilience over the past two decades,” Zurich CEO of North America Kristof Terryn said. “As the only team event on the PGA Tour, the Zurich Classic lets players compete alongside family and friends.”

Defending champions Rory McIlroy of Northern Ireland and Shane Lowry of Ireland are close friends. The Zurich is McIlroy’s first event since he won the Masters on April 13 to complete the career Grand Slam.

This year’s field also includes former U.S. Open champion Matt Fitzpatrick of England alongside his brother, Alex.

Players on the winning team each earn 400 FedEx Cup points and $1.66 million.

The event has raised more than $30 million for local charities since Zurich became the title sponsor, officials said.