|The Principal Financial Group to Become the Title Sponsor of the Champions Tour Event in Des Moines, Iowa|
(Des Moines, Iowa) - The Principal Financial Group® announces an agreement to be the title sponsor for the annual Champions Tour event played in Des Moines. The tournament, formerly known as The Allianz Championship, will become The Principal Charity Classic beginning in 2007. The event will be hosted by The Greater Des Moines Community Foundation and will be held June 4-10 at Glen Oaks Country Club in West Des Moines, Iowa.
"The theme of the PGA Champion's Tour is Giving Back', which makes it an ideal fit for The Principal®. We have a long standing commitment to give back to the community where our employees live and work," said J. Barry Griswell, chairman and CEO of the Principal Financial Group. "We're proud and excited to be able to keep this preeminent golfing event here in the Des Moines area with a new approach. We hope to increase our giving and focus on charities that have a direct impact on children. It will be a fun event for the whole community, whether you're a golf fan or not."
"The Principal Charity Classic is the only Champions Tour event held in the state of Iowa and gives us the opportunity to showcase our community as a stop on the national tour," said Johnny Danos, president of the Greater Des Moines Community Foundation. "This event not only boosts our local economy, it will provide a lasting impact on the future of our community through financial support for children's charities."
The goal of the tournament is to increase the amount of money raised for charity; specifically non-profit organizations that support children. Contributions will be divided among five major charities - Blank Children's Hospital, BRAVO, Greater Des Moines Community Foundation, United Way of Central Iowa and Variety-The Children's Charity. As a family friendly event, the entire community is invited to see top notch golfers in action while at the same time providing support to these local organizations.
"We are thrilled things came together so quickly with the Principal Financial Group and that we are able to make this announcement today," said Rick George, president of the Champions Tour. "The Champions Tour has enjoyed coming to Des Moines every year since
1999 and thanks to The Principal, will return with a new tournament. We welcome The Principal to the Champions Tour family and as an addition to an already strong 2007 schedule."
Jeff Starr, who will stay on as Tournament Director of The Principal Charity Classic, added, "I'm excited to work with The Principal to align this tournament with a valuable community partner. With their help we'll be able to take this charitable event to a new level and increase the involvement of the community and in return what we are able to give back."
The Principal Charity Classic, hosted by the Greater Des Moines Community Foundation, will be held June 4-10, 2007 at the Glen Oaks Country Club in West Des Moines, Iowa. A field of 78 golf professionals will be competing for a $1.6 million purse. The Bruno Event Team, based in Birmingham, Ala. has been hired to manage the tournament.