PGA Tour's Heritage Classic seeking new sponsor

The Verizon communications company will not renew its title sponsorship of the lone PGA Tour event in South Carolina after the current contract expires following the 2010 event.
The Verizon Heritage, which had a purse of $5.7 million this year, is played each April at Harbour Town Golf Links in Hilton Head Island the week following the Masters Tournament.
The tour and the Heritage Classic Foundation, the host organization for the event, have begun the search for a new sponsor.
Verizon senior vice president of marketing Becky Carr said in a release ``it made sense to restructure our future involvement with the PGA Tour to focus on select PGA Tour events that will provide Verizon Business with more opportunities for business development throughout the year.''
Verizon is expected to maintain a charitable relationship with the tournament.
Verizon began sponsoring the tournament in 1987 as MCI.  Since then, is has raised nearly $20 million for charities throughout South Carolina and Georgia, including $1.3 million in 2009, and the tournament has an estimated $84 million impact on South Carolina's economy, according to a Clemson University study.
The Heritage has been on the PGA Tour schedule since Arnold Palmer won the inaugural event in 1969, and Harbour Town is recognized by several national golf publications as one of the top courses in the United States.