{"id":36614,"date":"2023-11-22T20:43:52","date_gmt":"2023-11-22T20:43:52","guid":{"rendered":"https:\/\/isafespend.com\/news\/goldman-sachs-paid-pro-golfer-patrick-cantlay-more-than-1-million-annually-sources-say\/"},"modified":"2023-11-22T20:43:53","modified_gmt":"2023-11-22T20:43:53","slug":"goldman-sachs-paid-pro-golfer-patrick-cantlay-more-than-1-million-annually-sources-say","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=36614","title":{"rendered":"Goldman Sachs paid pro golfer Patrick Cantlay more than $1 million annually, sources say"},"content":{"rendered":"<div id=\"RegularArticle-ArticleBody-6\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-6-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\">Goldman Sachs<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> paid professional golfer Patrick Cantlay more than $1 million annually in a sponsorship deal linked to the bank&#8217;s consumer-banking efforts, CNBC has learned.<\/p>\n<p>A three-year deal signed by Cantlay in 2020 included a minimum of $1.1 million annually, according to people with knowledge of the contract, with performance bonuses for PGA Tour and Major victories and hitting top rankings worth potentially far more.<\/p>\n<p>Goldman opted not to renew Cantlay&#8217;s sponsorship this year in the latest example of the bank&#8217;s retrenchment from its retail banking push. After CEO David Solomon capitulated to demands to end the money-losing effort, the bank shut down a personal loan unit, shelved a planned checking account and sold off businesses.<\/p>\n<p>Cantlay initially wore a cap emblazoned with the bank&#8217;s short-lived Marcus brand. That was replaced by the Goldman Sachs name after the bank&#8217;s president, John Waldron, said to be a fan of the sport, pushed for the change, said one of the people, who declined to be identified speaking about sponsorship deals. \u00a0<\/p>\n<p>The first Cantlay deal was considered a relatively modest sum for a Top-10 ranked PGA golfer, mostly because his brand was still rising when he was signed, according to one of the people.<\/p>\n<p>He got paid significantly more when Goldman renewed his sponsorship in a one year extension earlier in 2023, this person said. Cantlay has earned more than $42 million in official competitions since turning pro in 2012, according to the PGA Tour.<\/p>\n<p>Goldman spokesman Tony Fratto declined to comment on the financial aspects of the sponsorship, as did Cantlay&#8217;s representative Molly Levinson.<\/p>\n<p>&#8220;We constantly evaluate the firm&#8217;s partnerships, and at this time, our logo will no longer appear on his hat,&#8221; Fratto told The New York Times, which first reported that Goldman wasn&#8217;t renewing Cantlay. \u00a0<\/p>\n<p>Cantlay still appears on Goldman&#8217;s website as a brand ambassador, along with LGPA golfer Nelly Korda and McLaren&#8217;s Formula 1 racing team.<\/p>\n<\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.cnbc.com\/2023\/11\/22\/goldman-sachs-patrick-cantlay-pay.html\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Goldman Sachs paid professional golfer Patrick Cantlay more than $1 million annually in a sponsorship deal linked to the bank&#8217;s consumer-banking efforts, CNBC has learned. A three-year deal signed by Cantlay in 2020 included a minimum of $1.1 million annually, according to people with knowledge of the contract, with performance bonuses for PGA Tour and<\/p>\n","protected":false},"author":1,"featured_media":36615,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":{"0":"post-36614","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Goldman Sachs paid pro golfer Patrick Cantlay more than $1 million annually, sources say | iSafeSpend<\/title>\n<meta name=\"description\" content=\"Goldman Sachs paid professional golfer Patrick Cantlay more than $1 million annually in a sponsorship deal linked to the bank&#039;s consumer-banking efforts,\" \/>\n<meta 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