SAN ANTONIO -- Valero Energy Corp. made history today when the company announced that the Valero Texas Open at La Cantera has raised $7 million for charity the largest contribution of any tournament in the PGA TOUR's history.
With this unprecedented donation, the Valero Texas Open has set its fifth consecutive record for charitable contributions and taken its spot as the top charitable fund raiser on the PGA TOUR.
It's hard to believe how far we've come in so little time, said Valero chairman Bill Greehey. This is the [image-nocss] fifth year we've sponsored the tournament, and each and every year, we have increased the contribution by $1 million or more.
Before Valero took over sponsorship of the tournament, the most it had ever raised for charity was $500,000. This year's charitable contribution is 14 times more than that amount. This record $7 million contribution should be No. 1 on the tour this year, he said.
Joining in the announcement that the tournament has blown past last year's record $5.35 million contribution and this year's goal of $6 million were defending champion Robert Gamez and PGA TOUR vice president of tournament business affairs Duke Butler. To add drama to the historic event, a giant vault was rolled onstage and the door was thrown open to reveal Gamez holding a money bag containing the contribution amount. The record contribution was unveiled as confetti cannons and music punctuated the moment, and children from the benefiting charities ran through the crowd showering guests with commemorative million-dollar bills.
PGA TOUR commissioner Tim Finchem said, "All of us at the PGA TOUR salute Valero Energy Corp.'s chairman Bill Greehey, the senior staff and employees of Valero and the board, staff and volunteers of Golf San Antonio for this tremendous charitable accomplishment. When you look back on their first $1.8 million contribution just five years ago, it's phenomenal to see a nearly four-fold growth in charitable giving through the combined efforts of Valero, its business partners and the tournament. We send our heartiest congratulations on this remarkable achievement."
Butler who also praised Valero said, "The passion that Bill Greehey has poured into the San Antonio tournament is really unsurpassed on the PGA TOUR. In the first 30 years of the Texas Open, a total of $4.1 million was raised for charity. In the last five years, since Valero took over as the tournament's title sponsor, they have raised $21 million for charity. That kind of dramatic increase in charitable contributions is unprecedented."
Valero and its vendors and business partners are responsible for 90% of the sponsorship revenues generated by the Valero Texas Open and the Valero Benefit for Children Golf Classic. In fact, the lion's share of the charitable donation is raised by the Benefit for Children Golf Classic, which is the company's charity tournament held on the heels of the Valero Texas Open, Sept. 24-25. A record-breaking 2,000 participants will be playing golf on eight local courses two more than last year at this year's Benefit for Children Golf Classic. The event also has drawn an unprecedented number of sponsors, including 17 companies that have pledged between $100,000 and $500,000 each.
A large portion of the Benefit for Children proceeds will go to San Antonio nonprofit organizations that do everything from provide shelter to abused and abandoned children; offer educational and recreational programs for at-risk youth; help children who have disabilities; and much more. Some of the proceeds also will benefit children's charities in other communities where Valero has operations throughout the United States, Canada and Aruba. All of the beneficiaries, which will be announced within the next couple of weeks, were nominated and chosen by Valero employees.
The Valero Texas Open runs Thursday through Sunday, Sept. 21-24 at the Westin La Cantera Resort. Tickets to the tournament can be purchased through schools participating in the Chip In for Schools program by calling 210-345-3818 or going online at www.golfsanantonio.org.
Valero Energy Corp. is a Fortune 500 company based in San Antonio, with approximately 22,000 employees and annual revenues of more than $80 billion. The company owns and operates 18 refineries throughout the United States, Canada and the Caribbean with a combined throughput capacity of approximately 3.3 million barrels per day, making it the largest refiner in North America. Valero is also one of the nation's largest retail operators with approximately 5,500 retail and branded wholesale outlets in the United States, Canada and the Caribbean under various brand names, including Valero, Diamond Shamrock, Shamrock, Ultramar and Beacon.
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