|St. Paul Travelers to become Title Sponsor|
FOR IMMEDIATE RELEASE James Cramer, PGA TOUR
PONTE VEDRA BEACH, FL - The PGA TOUR, along with The St. Paul Travelers Companies (NYSE:STA) and the Greater Hartford JayCees Community Foundation Inc., announced today that St. Paul Travelers will become the title sponsor of the PGA TOUR tournament currently known as the Buick Championship.
Beginning in 2007, the event will be re-named The St. Paul Travelers Championship and, as part of the FedEx Cup season, will be played June 18-24 at the Tournament Players Club at River Highlands in Cromwell, CT.
"We are extremely pleased that the greater Hartford region will be part of the FedEx Cup schedule with St. Paul Travelers as title sponsor," said PGA TOUR Commissioner Tim Finchem. "This event has a long history with the TOUR and has always had outstanding support from the community. We look forward to continuing that tradition and working with St. Paul Travelers and the tournament organization, led by Nathan Grube, to take the tournament to the next level."
"We are very excited to partner with the PGA TOUR and ensure that a PGA TOUR event will remain in Connecticut," said Jay Fishman, Chairman and CEO of St. Paul Travelers. "Our company has enjoyed a 55-year-long relationship with this tournament. As the title sponsor, we look forward to building on the event's strong legacy, and working with the PGA TOUR and the Greater Hartford Jaycees Foundation to enhance the event experience for PGA TOUR players, golf fans and the community."
The tournament purse will be $5.5 million in 2007, up from $4.4 million in 2006, and increasing by $100,000 each year of the four-year agreement. The event will be televised live by CBS Sports and The Golf Channel.
"The PGA TOUR and the 84 Lumber Classic had a definite positive impact in generating national awareness for 84 Lumber and created a great marketing opportunity for us," said 84 Lumber Company President and owner Maggie Hardy Magerko. "Yet, over the past several months we have developed and recently embarked on a strategic growth plan focusing us totally on the professional contractor market. We will continue discussions with the TOUR on future partnerships."
84 Lumber will remain the title sponsor for the 2006 84 Lumber Classic, September 11-17 at Nemacolin Woodlands Resort.
"This tournament has been the lifeblood of our organization and its support of leadership development through community service," said Stacey Spewock, President of the Greater Hartford Jaycees. "We are thrilled that we will be able to continue our mission of building tomorrow's leaders and supporting so many worthwhile organizations and causes through our foundation and community projects."
About the PGA TOUR
In 2006, the three Tours will compete in nearly 120 events for approximately $325 million in prize money. Tournaments will be held in eight countries outside the U.S. and in 38 states.
In addition to providing competitive opportunities for its membership, TOUR events also generate significant funds for local charities. In fact, the three Tours reached the $1 billion mark in overall charitable contributions in late 2005. The PGA TOUR's web site address is www.pgatour.com and the company is headquartered in Ponte Vedra Beach, FL.
About The St. Paul Travelers