"The club's board of directors approved a deal that brings the tournament back to Sedgefield through 2009 — with the possibility of extending the arrangement through 2017 — according to sources familiar with the deal. The move ends a 31-year relationship between Forest Oaks Country Club and the PGA Tour, and wipes out the remaining 15 years of a contract between Forest Oaks and the Piedmont Triad Charitable Foundation, the group that oversees the Wyndham.
The deal is not official. The foundation will not sign the contract with Sedgefield until it gets out of its long-term contract with Forest Oaks. That should come soon: Sources said the foundation has reached a tentative financial settlement with New York-based Nisshin, which owns Forest Oaks."
This excerpt comes from an article entitled
Sedgefield to host Wyndham
By Robert Bell
To read the entire article go to:
http://www.newsandrecord.com/apps/pbcs.dll/article?AID=/20080207/NRSTAFF/654540515
Thursday, February 07, 2008
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