MEMPHIS, Tenn. -- The PGA TOUR and Stanford Private Wealth Management unveiled a new name and logo and announced significant enhancements, including a new date and increased purse, for the Stanford St. Jude Championship, as the Memphis stop on the PGA TOUR will be called beginning in 2007.

PGA TOUR officials and executives from Stanford took the opportunity as this year's FedEx St. Jude Classic kicks off to announce exciting details for next year's event. While Stanford will assume title sponsorship of the 2007 tournament, the event will still benefit St. Jude Children's Research Hospital, the world’s premier pediatric cancer research center. FedEx will also continue its longstanding support of the tournament and the community as the presenting sponsor.

After unveiling the logo for the newly titled event, R. Allen Stanford, Chairman and CEO of Stanford, announced the following:

•In 2007, Memphis will have a new date on the PGA TOUR, moving from Memorial Day weekend to occur one week prior to the U. S. Open. The Stanford St. Jude Championship is set for June 4-10. The new timing increases the likelihood that the tournament will attract many of the top international players tuning up for the U.S. Open.

•Next year’s purse will increase to $6 million, making it one of the largest purses on the PGA TOUR, and positioning Memphis among the most important stops in the new FedEx Cup season.

•The 2007 Stanford St. Jude Championship, the 50th anniversary of the tournament, will be played at the TPC Southwind. Organizers are planning several anniversary celebrations to commemorate the history of the event and its support of St. Jude.

Stanford said the sponsorship fits nicely with the company's community investment priorities and its goal to secure strategic marketing opportunities.

"We're so glad to partner with the PGA TOUR, the premier sports marketing brand in the world, and at the same time support a charity that means so much to the children of the world," said Stanford. “St. Jude Children's Research Hospital represents the best of what can be accomplished when individuals and corporations are good stewards of their resources and are committed to making a true difference. It is for this reason St. Jude has become the Stanford corporate charity of choice, and we're honored to become title sponsor of this important event in 2007. From a co-branding perspective, the PGA TOUR represents the qualities that we at Stanford hold in high esteem -- honor, integrity and an unwavering commitment to excellence.”

According to Henry Hughes, chief of operations for the PGA TOUR, the Stanford St. Jude Championship will build on what is already a strong event.

“We thank FedEx for their wonderful support of this event over the years and for their continued involvement going forward, and are delighted to welcome Stanford to the PGA TOUR family. We are truly excited about their commitment to further elevate the tournament in 2007 and beyond,” Hughes said.

“We’re putting elements in place that will enhance the experience for both players and fans,” said Phil Cannon, tournament director. “You'll see new hospitality elements introduced that will make this event a ‘must’ for the corporate audience. A lot of planning and innovative ideas are being brought forth to carry this tournament forward, and coupled with being an integral part of the new FedEx Cup competition in 2007, I have no doubt the tournament will be spectacular."

John P. Moses, CEO of ALSAC/St. Jude Children's Research Hospital welcomed Stanford to the St. Jude family. "With Stanford becoming the title sponsor of the tournament, I am certain it will continue to be one of the marquee company charity events on the PGA TOUR,” said Moses. “Thank you, FedEx, for 21 years and we appreciate your continued support as presenting sponsor. I look forward to working closely with Stanford as title sponsor of the event. I appreciate them for embracing the St. Jude mission of finding cures and saving children with cancer and other catastrophic illnesses.”