RSM McGladrey is in talks to title sponsor a new Fall Series event in Sea Island, Ga. Based on information provided late last year to prospective sponsors, the tour is seeking $2 million to $3 million a year for a five-year term.
The new event would replace one of two tournaments that were played last year but are no longer in the Fall Series. The Valero Texas Open moved to mid-May after the AT&T Classic in Atlanta folded. The other Fall Series event was operated by Ginn Development, which is being sued by the PGA Tour after Ginn walked away from its event in Florida.
The PGA Tour schedule lists a Fall Series event from Nov. 5-8, but provides no details. Frederica Golf Club would host the tournament, according to proposals distributed in the marketplace.
If the tour cannot reach a deal with RSM McGladrey, or any other prospective title sponsor, the tour is expected to finance the event’s operations this year. The cost is estimated in the mid-seven figures based on tax documents filed by tournaments of comparable size. Most or all of those expenses would likely be offset by the sale of smaller sponsorships, hospitality and pro-am slots.
A Sea Island source said Davis Love III, a resident of the island and 23-year PGA Tour veteran, is committed to hosting the new tournament.
RSM McGladrey is the official accounting, tax and business consulting firm of the PGA of America. The Minnesota-based company also has endorsements with golfers Zach Johnson, Natalie Gulbis and Chris DiMarco.
