The PGA Tour announced on Friday that the tournament previously known as the Bob Hope Chrysler Classic will be played in 2010, despite Chrysler having declared bankruptcy on Friday. The tour's news release says:
"The PGA TOUR and Desert Classic Charities, Inc. reaffirmed in a joint statement Friday that the Bob Hope Classic would be played in 2010 and beyond.
"'The foundation that has been built over the last 50 years provides solid financial footing for the Desert Classic Charities group to continue the strong traditions of the Bob Hope Classic,' said PGA Tour Commissioner Tim Finchem. 'The tour and Desert Classic Charities are proud of the more than $50 million that have been raised for Coachella Valley charities, of which the Eisenhower Medical Center has been the largest recipient.'
"'We continue to appreciate the long-standing support provided by 2000 Volunteers, the local corporate sponsors and our 384 pro-am contestants from around the country,' said John Foster, President of Desert Classic Charities. 'We look forward to welcoming the best of the PGA Tour back to the city of La Quinta next year as we continue our mission of serving human needs in the Valley'."
There there was this story by Jimmy Burch of the Fort Worth Star-Telegram that notes that Crowne Plaza, title sponsor of the Colonial, has an escape clause in its PGA Tour contract that runs through 2012 that allows it to exit after the 2010 event. Crowne Plaza, Burch reports, is noncommittal as to whether it would continue beyond 2010.
-- John Strege