TRUMP ORGANIZATION WITHDRAWS
BACKING FOR US PRO GOLF TOUR

The Trump Organization has withdrawn from its relationship with the US Pro Golf Tour due to management changes.
Earlier this year Donald Trump, pictured right, chairman and president of the Trump Organization, had forged a five-year, strategic partnership with US PGT and agreed to host four US PGT major championships, which were to carry a total purse of $10.1 million.
Under terms of the agreement, Trump could withdraw from the memorandum of understanding based on certain conditions, including a change of management at the US PGT.
Trump was never obligated to provide any money or financial support to the US PGT, but rather was to be paid a licensing fee and a site fee for the use of the various Trump golf courses.
“Although we firmly believe in what the US Pro Golf Tour is doing for the game of golf by giving young professionals an international platform to showcase their talents, we’ve elected to exercise our option and step back until the new management presents a revised business plan,” said Ashley Cooper, senior vice-president of acquisitions and development for Trump Golf Properties, a division of the Trump Organization.
“Trump Golf Properties and the Trump Organization continually seek ways to support and grow the game of golf,” Cooper continued. “We may re-engage with the US Pro Golf Tour in the future, once the new management team crystallizes their business plan which also must be acceptable to the Trump Organization.”

BACKGROUND INFORMATION

Tom Kidd, the founder of the US Pro Golf Tour, resigned in late November. The mini-tour is set to announce a scaled-back 2007 tournament schedule - from 22 events down to only nine with $300,000 prizefunds.
Kidd resigned as president and chief executive officer of Greens Worldwide, parent of the US PGT, without offering a reason for his departure. There were unconfirmed reports that Kidd told Greens Worldwide board of directors that he "was forced to resign as a director and officer due to (i) insubordination of the company's management team, (ii) [his] lack of confidence in the management team's ability to execute a business plan and (iii) the management team's failure to disclose to [him] operational issues."
NO GUARANTEE
Ashley Cooper, senior vice president of acquisitions and development for Trump Golf Properties, said the US PGT could not guarantee that the purses for four proposed "Trump Majors" would be placed in escrow. The Trump Majors were to carry a total purse of $10.1 million, including $5 million for the Trump Match-Play. The Trump Million Dollar Invitational was supposed to be televised on ESPN.
That concept, however, has not taken off with pro golfers who frequent the American mini-tour circuits. The US PGT has 468 players who have paid a minimum $6,000 membership fee. Kidd had said back in October that he expected 1,720 players to sign up.
+The US Pro Golf Tour would have been a tier below the United States No 2 professional circuit, the Nationwide Tour.

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