Nationwide to end tour sponsorship in 2012

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09/03/2010 - Dublin, OH (Sportsbook Betting Lines) - Nationwide Insurance has closed one door and opened another.

The company said Friday it will no longer sponsor the PGA Tour's developmental circuit when its contract runs out after the 2012 season. But it also announced a six-year deal to become the presenting sponsor of the Memorial Tournament beginning in 2011.

The insurance giant has been the title sponsor of the Nationwide Tour since 2003, when it took over for Buy.com, and is currently in the eighth year of a 10-year deal.

PGA Tour commissioner Tim Finchem said he doesn't anticipate any problems finding another company to sign on as a sponsor for the 2013 season and beyond.

"Some people view it as maybe the best branding opportunity in sports because of the overall exposure," Finchem said.

He said the tour wants to find a company "that's active, engaged (and) wants to build something."

"And if we can manage that," Finchem said, "we'll be just fine."

Nationwide executive Jim Lyski said the company has been happy to be the namesake of the developmental tour, but jumped at the opportunity to sponsor the Memorial.

Jack Nicklaus' tournament -- a top draw on the PGA Tour -- is held at Muirfield Village in Dublin, close to Nationwide's headquarters in Columbus.

"We have been very, very happy over the last several years with the Nationwide Tour, but when we had an opportunity to step up and sponsor or present the Memorial, it was too good of an opportunity to pass," Lyski said.

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