Corona Extra and the ATP have signed a 5 1/2-year sponsorship agreement that makes the Mexican beer brand the top sponsor of the men's tennis tour.
A person with knowledge of the deal tells The Associated Press it has a total expected value of about $70 million. The person spoke on condition of anonymity because the sides agreed not to reveal financial terms.
The agreement is to be announced Monday and is expected to take effect by May.
The tour has been searching for a main global backer since Mercedes-Benz ended its partnership when its contract expired in 2008. The carmaker had been a leading sponsor since 1996.
ATP chief executive Adam Helfant calls the new contract ``a big win.''