The first question that will come to your mind after reading this post is: ‘what is a sponsor exemption?’. You might have read the term ‘sponsor exemption’ a thousand times in your life, but you still don’t have any idea of its meaning.
So, here we will discuss the definition and types of sponsor exemption. Let’s have a clear understanding of what a sponsor exemption is.
What Is a Sponsor Exemption?
There is no such thing as an official definition of the sponsor exemption, but it is a term that is commonly used to describe one of the golf events.
Let’s have a look at the definition of sponsorship:
Sponsorship refers to the act of supporting someone or something by providing funding, product, services, or anything else to that person or thing. Sponsors may be individuals, clubs, foundations, businesses, corporations, governments, etc. Sponsorships are the most popular way for organizations and players to promote the game of golf. The organizations can either provide financial assistance to the players or provide services to the players, in order to win the tournament.
Types Of Sponsorship Exemption
Sponsorships can be classified into two categories:
- Non-competitive:
- Competitive
Non-competitive sponsorships are provided by companies that are not involved in the golf game. The sponsorships provide monetary aid to the golf players and they cannot enter the competition.
In the case of competitive sponsorships, the companies that are sponsors can enter the competition. It is up to the company to choose which of the golf events that they will sponsor and enter. They can enter the tournaments by sponsoring the prize money of the particular event.
Conclusion:
We hope that this article has answered all the questions you have in your mind regarding the sponsorship exemption. This is the first time that I am writing about the sponsorship exemption, and I have also taken the liberty to write a few paragraphs about the sponsorship exemption in the golf.