The event has been contested at the Treetops Resorts. The one-year break will give organizers time to secure a multi-year sponsorship for the event.
Prior to this hiatus, the event had negotiated sponsorship deals as one-year agreements.
'I am very pleased that the PGA TOUR thinks so highly of this event that they are willing to grant us a one-year hiatus,' said Rick Smith, the owner and managing partner of Treetops resort. 'This will give us the opportunity to make an already great event even better for our sponsors, players, spectators, ESPN and the TOUR for 2008 and beyond.'
The Par-3 has included current and past greats from the PGA TOUR. The event has sold out seven of the eight years it has been contested. Fred Couples won for the third time last year.