Phil Mickelson was named tournament host of the PGA Tour's annual stop in La Quinta, California, in hopes he'll rejuvenate the event long known as the Bob Hope Classic.

"It's always been an important part of my life," Mickelson said, according to ESPN's Bob Harig. "I've always been passionate about here, and I love the tournament itself. But more than that, this tournament has meant historically a lot to this area, and I want to bring back the vision of Bob Hope."

The event was renamed The American Express for 2020 after being played without a title sponsor in 2019. That enticed Mickelson to transition from tournament ambassador to full-time host.

"American Express asked that myself and my foundation take on a bigger role. The PGA Tour asked me to take on a bigger role," the San Diego native continued. "My wife and I, Amy, we've decided this is the right fit, and we want to have a more direct involvement with the charitable support and donation here in the valley."

The tournament, which utilizes a pro-am format, already announced an $800,000 purse increase to $6.7 million with $1.26 million going to the winner.

Mickelson is a two-time winner of the La Quinta event and was a runner-up in 2019. He joins Tiger Woods (Genesis Invitational) and Davis Love III (RSM Classic) as active players who double as tournament hosts.

The American Express begins Jan. 16, 2020.