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Kodak extends Tour partnership; Challenge dropped

PGA Tour
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MOBILE, AL - NOVEMBER 10: Ben Barry of Tuscaloosa carries a stuffed Pink Panther on his shoulders as he follows Paula Creamer through her third round play in The Mitchell Company LPGA Tournament of Champions at Magnolia Grove Golf Course on November 10, 2007 in Mobile, Alabama. Creamer is nicknamed the Pink Panther. (Photo by Dave Martin/Getty Images)  - 

Though the PGA Tour and Kodak announced Friday an extension of their partnership through 2016, the Kodak Challenge is no more.

For the last three years, the Kodak Challenge has awarded $1 million to the player who created the best composite 18-hole score from 30 of the most iconic and picturesque holes on the schedule. Bill Lunde won the season-long prize in 2011.

Going forward, the partnership will shift away from highlighting consumer products and instead focusing on services for businesses.

“Kodak has been an outstanding partner for the PGA Tour and we could not be more pleased that Kodak chose to extend its partnership with us,” said Tom Wade, PGA Tour Chief Marketing Officer, in a release. “We look forward to collaborating with Kodak to better meet its evolving business objectives.”

In the last year, Kodak stock has sank from $5 to below $1.