Greens.com is "yet another victim of the Internet
investment turmoil," as the assets of the company were
purchased last week by the "newly formed" Greens Technology,
according to Sirak & Rosaforte of GOLF WORLD, who report
that the Greens.com Open in Reno, NV, remains on the PGA
Tour schedule for late August. Whether Greens Technology
will meet Saturday's "deadline to pay the $500,000 balance"
of its $1M "obligation it assumed when signing" the three-
year title sponsorship deal for the Reno event is "still up
in the air," as are its player contracts. Greens Technology
VP/Marketing Nicholas Paul: "Anything signed before (the
purchase) went away. All of this (the tournament, etc.) is
being evaluated." But Reno-Tahoe Tournament Dir Joe Kline
said whether the company is "there or not, the tournament
goes on." PGA Tour VP/Title Sponsor Relations Ric Clarson
said the Tour has been monitoring Greens.com's situation:
"Our read on it is it's an industry phenomenon as much as a
Greens.com phenomenon." What will happen if Greens
Technology doesn't pay the $500,000 bill before the deadline
is "undecided." Kline said that the event "could revert
back to its original name," the Reno-Tahoe Open, but "quite
likely would stay with" the Greens.com name, as merchandise
and tickets with the company logo have already been ordered.
Meanwhile, Juli Inkster wore the Greens.com logo on her
shirt when she won the McDonald's LPGA Championship last
week (GOLF WORLD, 6/30 issue).
PRESIDENT'S CUP SALES STRONG: In DC, Leonard Shapiro
reports that "there are no plans to sell single-day tickets"
for the President's Cup, set for October 16-22, in VA. The
tournament has "sold out all 42 corporate villas, at an
average price of about" $80,000 each and "expect[s] to do
the same" for the $25,000 corporate tables, with 20 of the
80 tables sold so far (WASHINGTON POST, 6/29).
