Fans of the FBR Open had reason to rejoice on Wednesday, as the Thunderbirds announced simultaneously that they have reached a four-year extension with title sponsor Friedman, Billings and Ramsey (FBR), and shattered the PGA Tour record for charitable contributions with a whopping $7.8 million going back into the community.
     Pat McGinley, the Big Chief of the Thunderbirds, the civic organization that runs the tournament, doled out the “good news’’ during a press conference at the TPC Scottsdale, which will host the event on the Stadium Course come Jan. 31-Feb. 3.
     “We are thrilled to have FBR on board for another four years as our title sponsor,’’ said McGinley, noting that the new contract runs through 2012. “From a tournament perspective, FBR has been an outstanding partner. More importantly, FBR has had a huge impact on this community.’’
     That was especially true when McGinley added the second part to the Thunderbirds’ big parlay, announcing that the FBR Open had shattered the record for giving to local charities. The previous mark had been $6.8 million established last year at the Valero Texas Open.
   “Since we announced our partnership with FBR four years ago, our goal has been to be the No. 1 ranked tournament in charitable giving on the PGA Tour,’’ said McGinley, noting that the tournament has raised $25.6 million since FBR took over in 2004, and $53 million during the tournament’s history that dates back to the 1930s.
    Neither the Thunderbirds nor FBR would comment on the money involved in the new extension. But the last contract, which was for five years and would have run out after the upcoming tournament, was for $25 million. It is believed the financial terms were similar, or in the $5 million-a-year range.
     PGA Tour commissioner Tim Finchem, in a prepared release, said his organization was “absolutely delighted’’ with the new contract.
          “FBR has had a tremendous impact on the tournament and its charitable outreach in working with the Thunderbirds,’’ Finchem’s statement read. “Now, in addition to claiming the biggest galleries each year on Tour, the FBR Open has the distinction of becoming a lead in charitable giving. We are proud of the outstanding work FBR and the Thunderbirds have done.’’
          Friedman, Billings and Ramsey provide investment banking, merger and acquisition advisory services, institutional brokerage accounting, asset management and private wealth services through majority ownership of FBR Capital Markets Corporation. FBR is headquartered in Washington, D.C. with regional and international offices in 10 cities including Phoenix.
         According to Eric Billings, the company’s CEO, “The FBR Open has been a very important component of growing our brand and building important customer relationships.’’
          “When you can top it all off by giving significant monies to charity, it makes the return from our involvement an even better one,’’ Billings added. “We have been made to feel right at home, and look forward to extending that feeling into the future.’’