- Associated Press - Wednesday, April 24, 2013

AVONDALE, LA. (AP) - Zurich chief executive officer Martin Senn says the company is extending its sponsorship of the Zurich Classic _ the New Orleans PGA Tour stop _ for five years.

The company isn’t disclosing its financial commitment, but Senn says the tournament creates nearly $30 million in annual spending in the New Orleans area.

The new deal expires in 2019. Zurich took over as title sponsor in 2005, less than a year before Hurricane Katrina devastated south Louisiana. Senn says the opportunity to promote the region’s recovery after the storm only further motivated Zurich to maintain its ties to the tournament.

Senn says the Zurich Classic has raised $9 million for area charities in the past nine years and has helped rebuild 450 homes in hard-hit St. Bernard Parish.