PGA Tour Gives Colonial Until December To Find Sponsors, Raise Money For '18 Event
Colonial Country Club has until Dec. 1 to "find the sponsors and raise the money" to ensure that the PGA Tour's annual stop in Ft. Worth "will go on as scheduled" next year, according to Mac Engel of the FT. WORTH STAR-TELEGRAM. Dean & DeLuca, despite reportedly ending its deal, is still "listed by the PGA Tour on its website" as title sponsor for the tourney, the week of May 21-27. Barring a "total and unforeseen collapse, club officials remain confident" the '18 event will go on as planned, and it will be able to fund the $11.5M necessary to make the event happen. But sources said that the Tour is "not doing much to help." Engel writes the Tour sitting on its hands is "slightly ironic" because it was the Tour that "put the Colonial in this position." The Tour "lined up Colonial with D&D," but now it is looking at the Ft. Worth country club to "fix this problem." A Tour spokesperson yesterday said that it is "maintaining its position to not comment on these matters." Engel notes unlike many other tournaments, the PGA Tour does "not own Colonial." Colonial, which has existed as a Tour event since '46, assumes all of the "financial risk and uses the tournament to make money." Sources said that Colonial has "received assurances from Ft. Worth-based American Airlines that it will help out" for '18. The club is "prepared to cover some of the remaining costs for one year." But sources said that they do "not think the club members would foot the considerable expenses in a greater capacity" after '18 (FT. WORTH STAR-TELEGRAM, 11/2).