Wachovia Championship future in doubt?
It happened to the Verizon Heritage a few years ago when it was called the MCI Heritage and MCI was hit with a financial scandal. And it could happen to the Wachovia Championship after Wachovia bank was failing before being recently acquired by Citigroup. The deal makes Citi the largest U.S. bank by total deposits. The Heritage, the annual PGA Tour stop in Hilton Head, was in danger of losing its title sponsor and no longer wanted to be affiliated with MCI, but MCI was absorbed/morphed into Verizon and that company retained title sponsorship. So what of the Wachovia sponsorship of the prestigious PGA Tour event in Charlotte, a deal that costs about $10 million annually according to Golfweek magazine and was extended in May to 2014? Well, on the surface at least, the sponsorship seems secure. A spokesperson for Wachovia marketing told Ron Green Jr. of the Charlotte Observer that ``For now it's business as usual as far as our sponsorship commitments.” PGA Tour officials have stated they expect the tour stop in Charlotte to remain, as well. Time will tell.
Citi Group? Wells Fargo is actually taking over.
The Tournament will be there...in Charlotte at Quail Hollow...most likely it will be called something else.
Posted by: Larry Loudmouth | October 28, 2008 at 09:57 PM