PGA Tour AT&T National Sees Drop In Sponsorship Dollars For '09
The PGA Tour AT&T National in DC, which tees off today, "already is viewed as one of the more high-profile events on the PGA Tour, but it has not been immune to a downturn in spending by sponsors and fans," according to Tim Lemke of the WASHINGTON TIMES. Tournament Dir and Tiger Woods Foundation President & CEO Greg McLaughlin: "It's probably in the 15[%] category across the board on sponsorships and ticket sales." But Lemke notes the tournament "overall is in solid shape," as it has been "helped by a long-term commitment from its title sponsor, which is locked in through 2014." The DC area also "has not been as hard hit by the recession as other areas of the country." The tournament earlier this year lost "two of its original founding partners in Bearing Point and Stanford Financial," but the event "replaced one founding partner when it signed an agreement with Lockheed Martin." CVS Caremark, CDW and Chevron also have "stayed on as major sponsors." Some corporate hospitality packages for suites near the 18th green "remained unsold, though only a few spots remained in the Hogan Chalet and Congressional Clubhouse Suites." All of the four-day packages for the Capital Club "were sold out, and one package in the Nicklaus Skybox, priced at $60,000, was still available." The decline in sponsorship and hospitality sales "could mean less money for the Tiger Woods Foundation, the tournament's main charitable beneficiary." However, officials said that it is "too early to draw any conclusions." Officials added that the event is on "solid footing because of the relative stability of its title sponsor" (WASHINGTON TIMES, 7/2).
PHILLY PHANATIC: In Philadelphia, Joe Juliano notes Finchem Wednesday praised the temporary move of the AT&T to Aronimink Golf Club for '10 and '11, but he "didn't offer much hope to the Philadelphia area for getting a full-time tour event any time beyond that." Finchem: "If you look at our calendar, we're full. ... We couldn't find the combination of a sponsor who wanted to play in Philadelphia and a golf course that was available. There might have been an opportunity a few years back, but I think that's when Aronimink went into its construction phase and was not available" (PHILADELPHIA INQUIRER, 7/2).
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