TSBA has been appointed The R&A's new licensing agency, charged with developing new commercial partnerships for The Open.
Under the new deal, TSBA will work closely with The R&A, which owns and organises the golfing championship to develop new partnerships in the UK, USA and China as it builds its global strength of brand.
IMG will continue to represent The Open across Japan and Korea.
Jenny Brown, head of retail, merchandise and licensing at The R&A, said: “Our key territories of focus for TSBA are UK, USA and China. IMG will continue to represent The Open in Japan and Korea. Our focus moving forward will be on digital, experimental and strategic brand collaborations across multiple product categories."
Ian Mallalue, chief executive of TSBA, added: "It is a privilege and an honour to be working with golf’s original championship.
"The Open reaches over 600m households worldwide each and generates 200 million impressions across social media by fans around the world. We are proud to be creating unique, branded products that truly engage the audience, particularly items that will be marking the occasion of The 150th Open at the Home of Golf in St Andrews in 2021.”
Played since 1860 on iconic links golf courses, The Open is the sport’s most international major championship with qualifying events on every continent.
The Open will return to Royal Portrush for only the second time in its history this July when the world's greatest golfers will gather in pursuit of the famous Claret Jug over one of the country's finest and most testing links courses.
Tickets for all championship days at The Open next year have already sold out with only practice day tickets remaining.
Proceeds from The Open are reinvested by The R&A into the growth and development of golf around the world and the organisation is aiming to double its re-investment into the game over the next 10 years to £200m, with £80m being invested into women’s and mixed golf.