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A Little Good Financial News For The PGA Tour
February 17, 2009
Since I’ve been reporting on all the gloom-and-doom possibilities facing the PGA Tour, I thought it only fair to pass on a bit of really good news: The Travelers has renewed through 2014 its sponsorship of the Hartford, Connecticut PGA Tour stop. The tournament has been running continuously since 1952, and was originally known as the Greater Hartford Open.
Central to that decision was that the tournament was moved from golf purgatory in the Fall series to the week after the US Open. They’re still not going to get Tiger, though.
This is the first of 20 tournaments that have title sponsor contracts expire after this year.
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And on the bad news front. Stanford Financial was raided by the FBI and the offices were closed today and assets frozen, and Allen Stanford has a warrant out for him (whereabouts unknown at this time).
St. Jude officials in Memphis are uncertain about what that means for them, however, if the assets are frozen, it seems unlikely that any judge will allow funds to be used for the St. Jude tournament, as I would hope the investors would be first in line.
http://www.wmctv.com/global/category.asp?c=151146&clipId;=&topVideoCatNo=15040&topVideoCatNoB=124083&topVideoCatNoC=105461&topVideoCatNoD=124506&topVideoCatNoE=124957&clipId=3457190&topVideoCatNo=15040&autoStart=true
Posted by martin on 02/17
Local (Memphis) news is now reporting that the St. Jude tournament is not in jeopardy, only the title sponsorship.
Posted by martin on 02/18
I saw a column out of Memphis that assumed FedEx would step in and take over.
Posted by The Original Golf Blogger on 02/19
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