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"As you can imagine, with all that is going in with different categories of business, it is a very difficult time to find a title sponsor," Kaplan said. GolfWorld recently reported that four full-field events on the LPGA Tour schedule are in search of title sponsors for 2009. a tournament cannot be played without a title sponsor. And given the costs associated with staging a tour event - the purse, television commitments, operations, etc. His tournament, which is in its 40th year, and the one near Tampa are the only two events on the PGA Tour schedule that do not have title sponsorship lined up for 2009. Kaplan has the added burden of trying to find a title sponsor for 2009. We'll have money to give them certainly but it may not be as much." We gave nearly $1.5 million to charity last year. Our overall business is probably off 24 to 26 percent.
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So we're feeling it, and I would think other tournaments are feeling it, too. If people haven't paid for it, a lot of them have said we're putting everything on hold.
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"The economy is definitely affecting the sale of hospitality and pro-am packages," said Dave Kaplan, in his 28th year as tournament director of the Atlanta-based AT&T Classic, which will be played in two weeks. Talks are under way to extend the agreement beyond its 2010 expiration.Īnd it appears that some tournaments are impacted more than others. There is no telling how much that will affect negotiations - if at all - on a renewal of an estimated $7 million commitment to sponsor the golf tournament. Hougham didn't even have to mention that his title sponsor, Wachovia, the nation's fourth-largest bank, recently reported a $353 million first-quarter loss. But if you are not concerned, you'll be in trouble." Even though our demographics in golf are a little different than in most sports. We sold out our new venue and there is still a strong interest in the tournament. Most of our major sponsors have four-year contracts through 2010, so that helps us out. "We've been very fortunate with the support we get with the public. "I think you always have to look ahead and see what is going on with the economy," said Kim Hougham, executive director of the Wachovia Championship. Regular tickets sold out months ago.Ī few days spent watching golf in North Carolina would never lead to the conclusion that the country borders on recession, gas prices have hit all-time highs and the American economy is suffering.īut golf is certainly not above such issues, even if everything looks perfect at Quail Hollow. The tournament has become so successful in its sixth year that high-end seating was added behind the 16th green and 17th tee. A visitor to this week's Wachovia Championship in Charlotte might notice the opulence that envelops the Quail Hollow Club, one of the reasons this is among the PGA Tour's most popular stops.Įach and every one of the corporate skyboxes that surround various holes is sold out, giving those companies that purchased them the opportunity to wine and dine clients, employees and friends.