One of the LPGA's biggest prizes won't return next year, confirming rumors that have been swirling for the past couple of weeks on the Mount Pleasant tournament's fate. That's right, the Ginn Tribute, hosted by Annika Sorenstam, is off the schedule for 2009. The reason: Apparently the event, held at RiverTowne Country Club, just couldn't get the corporate financial sponsorship necessary to keep it going amid the housing market downturn.
CBS Sports broke the story, reporting that a Ginn Development Co. spokesperson confirmed the cancellation Friday and said that officials had negotiated their way out of a four-year deal to host the event through 2010.
From CBS Sportsline:
Ginn tried to find outside corporate support to keep the Charleston, S.C.,-based Ginn Tribute afloat, but couldn't identify any secondary sponsors.
"The golf tournament business is primarily fueled by economic support," said Bobby Ginn, the company founder. "We did everything in our power to generate the sponsorship necessary to continue with the Ginn Tribute, but given the current market and corresponding cuts in corporate spending, it was an uphill battle."
The Post and Courier also has a story up, but not a lot of information as of yet.