Morgan Stanley Third Company To Remove Name From PGA Tour Event
Morgan Stanley has become the "third company to voluntarily remove its name from a PGA Tour event in 2009 despite meeting financial obligations under its sponsorship contract," according to Jon Show of SPORTSBUSINESS JOURNAL. The Memorial Tournament, hosted by Jack Nicklaus, will take place June 4-7 in Columbus, but its logo and other communications "will not include 'presented by Morgan Stanley.'" Morgan Stanley did not comment, and it was "unclear when exactly the company decided to remove its name, but tournament communications continued to refer to Morgan Stanley as the presenting sponsor as late as April 9." The company's name late last week also still appeared in "prominent spots on the tournament's Web site but was removed from PGATour.com." The company's "withdrawal from tournament activities includes the Wednesday pro-am, in which Morgan Stanley received all the amateur slots" (SPORTSBUSINESS JOURNAL, 4/27 issue).
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