The Heritage Tournament to be held without a major sponsor – Golf news
The PGA Tour Heritage tournament will kick off without a major sponsor this year.
The tour officials have been looking for a prospective title sponsor since 2010, but have not been able to find one.
The PGA Tour is going through a crucial phase, as they have not found a major sponsor for the tournament yet. According to the tradition, the major sponsor is responsible for providing the winner’s prize money, which is the largest in the tournament purse.
However, ever since the former sponsor Verizon pulled out after the 2010 event owing to the decline in sales of tickets, the management has not been successful in arranging a new one.
Recently, the tour officials declared that they were engaged in a deal with a company, who was ready to book hotel rooms, purchase three-quarters of the TV advertising time and venues for pro-am events. However, the deal was cancelled abruptly and no reason
was given behind the cancellation.
Steve Wilmot, the director of the event stated, “We were going to make them feel like it was their event. At the last minute, they pulled out.”
Despite constant failures, Wilmot says that they are trying their level best to secure a sponsor for the event, which is due to kick off in ten days time. As a backup, the Tour has pledged $4 million of its assets and borrowed $1 million from the Town of
Hilton Head and Beaufort County.
Moreover, they are in constant negotiations with several companies who might step in at the last minute.
Wilmot stated, “There are a lot of things happening in the next 10 days, let alone a golf tournament. We are not at that point. We are not sitting here, holding one person’s hand and negotiating. There’s a dozen or so we’ve definitely got a grip on.”
The Heritage Tournament is one of most prestigious events on the PGA Tour, which is attended by a prolific field every year. The event brings in tourism and media attention to the area bringing prosperity to the economy which is why the officials and the
county government are trying hard to secure its future.
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