The Legends of Golf started in 1978, two years before the tour was created, although it is still the second-oldest Champions event behind the Senior PGA Championship.
In addition to the 54-hole stroke-play event this week, there will also be a 36-hole, two-man better-ball competition featuring the two divisions -- Raphael (50-69 years old) and Demaret (70+ years old) -- playing for unofficial money.
The Demaret Division will compete on Monday and Tuesday, while the Raphael Division will play on Friday and Saturday.
The event is returning to Savannah for the fifth straight year.
Last year, reigning Charles Schwab Cup champion Jay Haas rolled to a five-shot win over Peter Jacobsen and Craig Stadler for one of his four victories in 2006.
The GOLF CHANNEL will have coverage of the tournament on Friday, and CBS will broadcast it on Saturday and Sunday.
The Champions Tour will be off again next week before returning for the FedEx Kinko's Classic, where Haas also won last year -- one of three wins in a four- start period that ended with his victory at the Senior PGA Championship.