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Tiger Woods Invests Own Money To Ensure World Challenge Event Remains Solvent
Published December 3, 2012
NOT OUT OF THE WOODS: The AP's Doug Ferguson reported when the tournament "lost its title sponsor last year, and a deal with a major company unexpectedly fell through at the last minute in early September, Woods spent what is believed to be about $4 million of his own money to join presenting sponsor Northwestern Mutual in covering the operation costs." Woods said, "We're going to be doing everything we can to keep the tournament going and keep all our programs going." Golfer Steve Stricker said, "It shows what this event means to him. There's a lot of things Tiger does that people don't know about." But how much longer the World Challenge continues is "uncertain." Tiger Woods Foundation President Greg McLaughlin said that it has a reserve fund that "supports operations and programs, such as the learning centers." He "did not say whether the World Challenge could go another year without a title sponsor, saying only that it was 'very important.'" The tournament has been given a date for '13, but that "doesn't mean it will be played" (AP, 12/1).