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.