GREENSBORO, N.C., Jan. 23 (UPI) -- Daimler Chrysler AG Monday said it will no longer sponsor the Chrysler Classic of Greensboro after this year's golf tournament.
"We certainly hate to see Chrysler go, but we knew this was a possibility," tournament director Mark Brazil told the Greensboro News & Record.
Brazil said that the tournament's board has talked informally with a number of companies about taking on sponsorship. He said that now that Chrysler has officially bowed out those talks can "get serious."
The PGA announced recently that the tournament will move next year from the fall to the third week of August, making it the last "regular season" event before the new FedEx Cup championship series. Brazil and the board presented the PGA with a $24 million letter of credit that would allow the tournament to continue through 2010 even if no replacement sponsor for Chrysler is found.
