FBR has announced that it won’t return as sponsor of the PGA Tour’s Phoenix Open.
That’s not surprising, considering that FBR is a company swimming in quicksand. They’ve lost 98% of their stock value over the last two years and when you’re bleeding like that, sponsoring a golf tournament isn’t going to make the stockholders happy.
FBR, in fact, was at the absolute bottom of The GolfBlogger’s list of current PGA Tour sponsors in financial distress.
I think you can expect to see Barclays, Windham, UBS, Buick and Deutsche Bank also drop out.
The Phoenix has been around for seventy years, and—thanks to the crowds at the now-legendary par 3 sixteenth—is one of the most exciting events in golf. It no doubt will find a sponsor. But I’ll guarantee it won’t be as rich a title as it has been previously.