Greenbrier Seeks U.S. PGA Tour Event; Buick Ends Golf Pacts

By Michael Buteau

Aug. 4 (Bloomberg) — Buick drove away today from the U.S. PGA Tour, which may be headed to the old home of Sam Snead, its all-time victory leader.

The General Motors Co. unit said it was ending sponsorship of its two title events on the world’s richest golf circuit, the Buick Open and Buick Invitational.

The Buick Open, which was won two days ago by Tiger Woods in Grand Blanc, Michigan, will be replaced by a tournament to be identified tomorrow, according to a statement by the automaker and the golf tour.

At the same time, the Greenbrier luxury resort, a national historic landmark recently purchased by West Virginia coal tycoon Jim Justice, announced it would hold a news conference tomorrow. Justice and five-time British Open champion Tom Watson will attend the session at the 231-year-old Georgian-style resort in White Sulphur Springs, West Virginia.

Lynn Swann, a spokeswoman for the Greenbrier, which had filed for bankruptcy this year due to a drop in luxury travel, declined to disclose details about the press conference in an e- mail.

Golfweek magazine, which first reported the Greenbrier connection to the PGA Tour last week, said the resort would replace Warwick Hills in Grand Blanc as the site of the tournament that’s been known as the Buick Open.

Justice told Golf Digest magazine that he would prefer to host one of four FedEx Cup playoff events.

Tour spokesman Chris Smith declined to comment on the reports in an e-mail.

Half Century

Buick’s sponsorship of golf’s top professional circuit dates back to the 1951 Buick Open. It also was the official car of the PGA Tour. In 2008, it ended an endorsement contract with Woods, No. 1 in the Official World Golf Ranking, with a year left on a nine-year deal. GM, the biggest U.S. automaker, exited bankruptcy on July 10.

Justice, who bought the Greenbrier resort and 80 percent of the Greenbrier Sporting Club in May for $20 million from CSX Corp., told Golf Digest that PGA Tour officials have visited the property a couple times this summer. He said he expected a call this week from Tour Commissioner Tim Finchem.

Snead, who died in 2002, was associated with the Greenbrier for 47 years as he won a Tour-record 82 tournaments. The Greenbrier was once a staple on the social circuit for Judy Garland, the Vanderbilts and the Rockefellers. President Dwight Eisenhower had an underground bunker built at the hotel to shield U.S. lawmakers in case of nuclear attack.

To contact the reporter on this story: Michael Buteau in Atlanta at mbuteau@bloomberg.net.

Last Updated: August 4, 2009 16:34 EDT

taken from bloomberg.com 8-5-09