Wachovia Corporation, the fourth-largest financial services company in the United States, will be the title sponsor of the event for four years.
'The PGA Tour is excited to partner with Wachovia to bring a prominent Tournament to Charlotte,' PGA Tour commissioner Tim Finchem said. 'Wachovia reflects the same values as the PGA Tour and is an ideal sponsor for this key new stop on the Tour schedule.'
The $5.6 million purse for the Tournament is one of the highest on the PGA Tour, and guarantees the winner more than $1 million. The prize money, renowned golf course and facility, and coveted early May time-slot are expected to draw many of the stars on the PGA Tour to the Charlotte event.
'I am extremely pleased with the choice of Quail Hollow for this prestigious event,' said Johnny Harris, President of Quail Hollow Club. 'With recent improvements by Tom Fazio and minor modifications in the coming weeks, Quail will be ready to host the best golfers in the world.'
Proceeds from all PGA Tour events benefit charities selected by the Tournament organization. The nationally known educational foundation Teach for America has been selected as the primary charitable recipient of the Wachovia Championship for 2003.
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