The event, which will conclude on Labor Day, September 1, 2003, will benefit the Tiger Woods Foundation, that promotes children's health, education and welfare.
The full-field event will be led by Woods, the No. 1 player in the world, and will feature first-place prize money of $900,000. IMG, the world's largest sports marketing agency, will promote and manage the event.
'I am thrilled that Deutsche Bank has selected the Tiger Woods Foundation to be the beneficiary of this new PGA Tour event,' said Woods. 'This will certainly assist our foundation's goals in helping and reaching out to youngsters in need, who will lead this nation to a brighter tomorrow.'
'We are confident the tournament will be well received,' said PGA Tour Commissioner Tim Finchem. 'We look forward to the PGA Tour's return to the Boston area, and to showcase the new Tournament Players Club of Boston, which has already received outstanding reviews.'