Event in Charlotte renamed Quail Hollow Championship

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CHARLOTTE, N.C. -- The Wachovia Championship will have a new name when players and fans show up in Charlotte this spring for the April 27-May 3 PGA TOUR event. Starting this year, the tournament will be named the Quail Hollow Championship.

"Wachovia has been proud to support our communities and build our business for the past six years through our involvement with the Wachovia Championship and the PGA TOUR, and we had renewed our contract to sponsor the tournament in early 2008," said David Carroll, head of Wells Fargo's Wealth Management, Brokerage and Retirement Services Group. "Given the merger integration with Wells Fargo and Wachovia, we believe it no longer makes sense to invest in promoting the Wachovia brand via the tournament. In the current environment, we also believe that promoting this event with our brand could send mixed signals about our priorities to many of our stakeholders. Also, as a result, our company will not host any client entertainment events in connection with the Championship."

Wachovia team members will volunteer their time to support this year's event, and the tournament will donate 2009 net proceeds to Teach For America and other non-profit organizations, as in the past.

"We want to ensure the event continues to benefit the Charlotte economy and that fans and players have a terrific experience," said Kym Hougham, executive director of the tournament.

"We support this name change and look forward to working with the tournament in continuing the positive business, charitable and economic impacts that have been generated by this event," said PGA TOUR Commissioner Tim Finchem.