Tiger Woods and his foundation took a big hit this week when the PGA tour ended its contract with Congressional Country Club, the site of the Wood’s D.C.-area event for 2018 and in 2020 as well.
The Tour exercised this clause in the contract after the TW Foundation failed to get a sponsor for the event.
CSN Mid-Atlantic reporter J.P. Finlay reported this news on Monday, as a letter came out from Congressional’s club president Richard Sullivan Jr. delivered the news.
Tiger Woods golf tournament out from Congressional for 2018 & 2020. No title sponsor. Incredible that Tiger's tourney cant find a sponsor
— JP Finlay (@JPFinlayCSN) September 18, 2017
“The Tiger Woods Foundation currently has no title sponsor for their PGA Tour golf tournament. Because of that circumstance, the PGA Tour has exercised its right to terminate our facilities agreement with them for 2018 and 2020, while they seek a title sponsor for The National,” Sullivan Jr. wrote.
The Tiger Woods Foundation would take a big hit if they were tasked to fund this event themselves without the help of a sponsor.
“Without a sponsor, the event would be a significant drain on [the Tiger Woods Foundation] resources, instead of a source of funds,” Sullivan added.
Quicken Loans, who was the main sponsor for the event for the last four years, saw its contract end with Congressional this past year. President and CEO of the TW Foundation, Rick Singer, told the Washington Post this week that the foundation is still looking to make a deal with the former sponsor.
“We’ve been here for so long, and the tournament is an important fundraiser for the foundation. We have a lot of important people looking at this. Selling a title isn’t a simple task, but it’s really important that we’re here in D.C. We have a history here. Having a tournament cements our presence here.”
This will certainly be a difficult deal for Tiger Woods as his brand has diminished greatly over the last four months. It all began with Woods’ arrest on Memorial Day in Jupiter, FL. Followed by his toxicology report which revealed Woods had five different drugs in his system the night of the arrest.
Of course, the leak of his nude photos was the most recent tabloid headline for Woods after his ex-girlfriend – Lindsay Vonn – had her phone hacked.
It will be interesting to see how this all plays out for Woods in the coming months especially since he will be subject to questions by the media at the President’s Cup as an assistant coach for the U.S. team.
— SXM PGA TOUR Radio (@SiriusXMPGATOUR) September 18, 2017