"Sources say the biggest obstacle in the talks is the contract between Forest Oaks and the foundation. The contract, which was signed by the Greensboro Jaycees in 2002, runs through 2013, an unusually long arrangement for a midtier PGA Tour event.
The foundation took over operations for the tournament last year and is on the hook for about $250,000 a year for the remaining six years of the deal. A move back to Sedgefield would be a return to the tournament's roots.
Sedgefield and Starmount Country Club shared the tournament the first 18 years starting in 1938. Sedgefield, tucked off High Point Road, became the tournament's full-time host from 1961 to 1976 before Forest Oaks took over the following year."
This excerpt was taken from the following link. To read the entire post go to:
http://www.news-record.com/apps/pbcs.dll/article?AID=/20070201/NEWSREC0101/70131037
Sunday, February 04, 2007
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