OK, so RGj relates that Wells-chovia is dropping the “Wachovia” from the annual Quail Hollow golf junket and calling it the Quail Hollow Championship. Makes sense, totally in-line with Wells’ cost-cutting moves in the wake of saving Wachovia from the awful clutches of Citi.
But then Green adds that the bank “will honor the financial terms of the tournament contract, which runs through 2014.” Huh?
Wells could name the tourney it is sponsoring for itself and reap all the supposed marketing benefits thereof, but opts not to? Clearly there is more to the story. Either, A) There is no real marketing impact to a bank sponsoring a golf tourney or B) What impacts there are, in the current environment, are negative. You’d think Green, being the Uptown paper’s in-house golf maven, would want to explore either possibility. But no, the statement is allowed to just hang there, taunting readers who want more.
Me, I’m guessing Wells figured it was too late to pull out for this year but otherwise has no interest in continuing the relationship and would just as soon see someone else step up to be title sponsor thru ’14. As such, this may be the only year for the “Quail Hollow Championship” unless it gets a new sponsor for next year.
