Sponsorship woes force W.Va. Nationwide Tour event to cut purse from $1 million to $600,000

Nationwide Tour event cuts purse nearly in half

BRIDGEPORT, W.Va. — One of the Nationwide Tour’s top events has slashed its purse nearly in half because of a lack of sponsorships.

Next week’s Players Cup at Pete Dye Golf Course will have a $600,000 purse, down from $1 million. That follows last week’s St. Jude Classic on the PGA Tour, which had its purse lowered from $6.1 million to $5.6 million because Stanford Financial pulled out as the title sponsor.

Nationwide Tour president Bill Calfee on Friday said the West Virginia event was dependent on sponsors from the coal industry, hard hit in the economic downturn. Calfee said the event will continue to contribute about $125,000 to charity.

Last year’s tournament winner Rick Price is now playing on the PGA Tour.