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Wachovia Championship Increases Total Prize Money for 2005 to $6 Million
Champion to Receive $1,080,000
Charlotte, NC – December 14, 2004 – The purse for the Wachovia Championship has been increased from $5.6 million to $6 million for the May 2-8 PGA TOUR event at Quail Hollow Club.
This marks the first increase in prize money since the inaugural Wachovia Championship was played in 2003 and lifts the champion’s share from $1,008,000 to $1,080,000.
“The growth in stature of this championship in a short period of time is remarkable, said Tournament Director Kym Hougham. “Our ability to offer more prize money to the players is a reflection of how much this community has supported the event the past two years. Certainly, we are working hard to improve the championship each year for the patrons and the players and this is one of those improvements.”
Since its inception, the Wachovia Championship has maintained one of the largest purses on the PGA TOUR schedule.
“From the beginning, it has been our goal to make the Wachovia Championship one of the best events on the PGA TOUR,” said General Chairman Mac Everett. “Our ability to increase the purse to $6 million heading into our third year reflects the strong support we have received from our title sponsor, the community, Quail Hollow Club and the TOUR players.”
In two years, the Wachovia Championship has generated over $2 million in charitable funds. Teach For America is the primary beneficiary.
About Teach For America
Teach For America is building the movement to eliminate educational inequity by closing the achievement gap that exists between children growing up in low-income communities in this country and those in more affluent areas. The organization calls upon outstanding recent college graduates of all academic backgrounds to commit two years in low-income rural and urban communities and become lifelong leaders to expand opportunities for children growing up there. Since 1990, more than 12,000 Teach For America corps members have impacted the lives of nearly 1.75 million students across the country. For more information, please visit www.teachforamerica.org.
About the Wachovia Championship
The Wachovia Championship is one of the largest, most prestigious sporting events in the Charlotte region. Now in its third year, the tournament is intended as an annual tradition that will bring customers, players and patrons back each year for an unforgettable golf experience. In a short two years, the national and international golf community has already recognized it as one of the top events on the PGA TOUR. The 2005 tournament will be held May 2-8. Sponsored by Wachovia Corporation (NYSE:WB), the tournament’s $6 million purse is one of the largest on the PGA TOUR. A combination of Quail Hollow Club, the spirit of the Charlotte area community and the support of Wachovia are several reasons the championship has and should continue to draw many of the world’s top golfers to Charlotte.
For more information, visit the tournament website, www.wachoviachampionship.com.
About Wachovia
Wachovia Corporation (NYSE:WB) is one of the largest providers of financial services to retail, brokerage and corporate customers, with retail operations from Connecticut to Florida and west to Texas, and retail brokerage operations nationwide. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve approximately 14 million client relationships (including households and businesses), primarily in 15 states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, serves clients in 49 states and Washington, D.C. Global services are offered through 33 international offices. Online banking and brokerage products and services also are available through wachovia.com.
Wachovia had assets of $436.7 billion, stockholders’ equity of $33.9 billion and market capitalization of $61.4 billion at Sept. 30, 2004. SouthTrust had assets of $53.8 billion and stockholders’ equity of $4.7 billion at Sept. 30, 2004.
Prize Money Distribution Chart
$6,000,000
1. $1,080,000 36. 30,900
2. 648,000 37. 29,400
3. 408,000 38. 28,200
4. 288,000 39. 27,000
5. 240,000 40. 25,800
6. 216,000 41. 24,600
7. 201,000 42. 23,400
8. 186,000 43. 22,200
9. 174,000 44. 21,000
10. 162,000 45. 19,800
11. 150,000 46. 18,600
12. 138,000 47. 17,400
13. 126,000 48. 16,440
14. 114,000 49. 15,600
15. 108,000 50. 15,120
16. 102,000 51. 14,760
17. 96,000 52. 14,400
18. 90,000 53. 14,160
19. 84,000 54. 13,920
20. 78,000 55. 13,800
21. 72,000 56. 13,680
22. 67,200 57. 13,560
23. 62,400 58. 13,440
24. 57,600 59. 13,320
25. 52,800 60. 13,200
26. 48,000 61. 13,080
27. 46,200 62. 12,960
28. 44,400 63. 12,840
29. 42,600 64. 12,720
30. 40,800 65. 12,600
31. 39,000 66. 12,480
32. 37,200 67. 12,360
33. 35,400 68. 12,240
34. 33,900 69. 12,120
35. 32,400 70. 12,000