FedEx, PGA ink deal for new tourney format

Nov. 2, 2005 at 12:08 PM

MEMPHIS, Nov. 2 (UPI) -- The PGA Tour and FedEx announced a deal Wednesday that will overhaul the championship structure and bring in a new corporate sponsor.

The St. Jude Classic in Memphis, Tenn., will now be sponsored by the Stanford Financial Group, a sponsorship FedEx has held since 1986, The Memphis Commercial Appeal reports.

The PGA Tour will now host the FedEx Cup, a series similar to NASCAR's Nextel Cup, beginning with the 2007 season.

Golfers on the Tour will now compete in a points structure that will lead to a four, big-money tournament series at the end of the season and an overall Tour champion.

Tour commissioner Tim Finchem said in a press release the change will "strengthen each individual event" and be better for branding the tournament.

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