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RBC extends sponsorship with PGA Tour event through 2023 (The Associated Press)

HILTON HEAD ISLAND, S.C. (AP) -- RBC will remain the title sponsor of the PGA Tour event on Hilton Head Island through 2023.

RBC, the PGA and the Heritage Classic Foundation announced the six-year contract extension Wednesday. The Canadian banking giant rescued the tournament in 2012 after officials used money from the foundation to host the tournament without a title sponsor in 2011 after Verizon pulled out. RBC Heritage tournament director Steve Wilmot says at this year's tournament the parties extended the agreement into 2017, hoping to reach a long-term agreement.

Dave McKay, RBC's president and CEO, says the company's extended agreement with Harbour Town Golf Links shows its growing commitment to its U.