It's still a Recession ... Nationwide!

Don't try telling the US Nationwide Tour top brass that we are past the worst of the Recession. They have just had to slash almost half the prize fund for next week's Players Cup because of lack of sponsorship.
"Only" $600,000 will be up for grabs, down from the anticipated $1,000,000+.
No tour in America is escaping the Credit Crunch. The LPGA Tour has had to cancel tournaments altogehter while, on the US PGA Tour, last week's St. Jude Classic lowered its purse from $6.1 million to $5.6 million because Stanford Financial pulled out as the title sponsor.
No tournament on the Nationwide Tour had a higher pay-out than the Players Cup in West Virginia.
"We all recognize the economy has had a negative effect on golf sponsorships, and nowhere has it had more impact than the Nationwide Tour Players Cup with its coal industry-related sponsor base," Nationwide Tour president Bill Calfee said in a statement. "I am pleased to confirm that this event will be played as scheduled, however, we have been forced to make the difficult decision of reducing the purse."
The Players Cup has had one of the strongest fields on the Nationwide Tour. Last year Rick Price won the event in a playoff to earn his PGA Tour card. He also collected $180,000, which remains tied for the richest paycheck in the tour's 20-year history.
Aberdeen-born Australian Michael Sim is the leading money-winner on the Nationwide Tour this season. With two wins already under his belt, he needs one more to gain automatic and immediate promotion to the US PGA Tour.