ADT "Declines To Extend" LPGA Deal

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Well, I guess this will prevent anyone from asking if ADT will be back to sponsor next year's LPGA finale...

ADT declines to extend sponsor relationship
 
DAYTONA BEACH, Fla., Oct. 16, 2008 -- The Ladies Professional Golf Association (LPGA), owner and operator of the ADT Championship event in West Palm Beach, Fla., and ADT, title sponsor of the event, jointly release the following statements in response to ADT not renewing its title sponsorship.
 
LPGA statement credited to LPGA Commissioner Carolyn Bivens
The LPGA has enjoyed an excellent relationship with ADT as a title sponsor of our season-ending event since 2001, and we are tremendously grateful for ADT’s strong support and loyalty to the LPGA and our members throughout the years. While we are disappointed that ADT won’t title the event beyond 2008, we look forward to working with them to ensure the 2008 event is the most successful to date.  As it relates to the future title of this event, which features golf's most compelling format, we are having discussions with several groups for title sponsorship.
 
Statement credited to ADT Security Services
ADT Security Services has had a long and productive partnership with the LPGA as title sponsor of the ADT Championship. While ADT is committed to making this year’s ADT Championship the best ever, we have decided not to extend our sponsor relationship.  Over the years we have had the opportunity to work with LPGA in building a great event while hosting it in our local Palm Beach County community.
ADT maintains an excellent relationship with the LPGA and continues to be committed to our other partners including the Barclays Center in Brooklyn, the Bank Atlantic Center in Sunrise, Florida, the Pepsi Center in Denver as well as several Anschutz Entertainment Group (AEG) properties, the Home Depot Center and LA Live in Southern California and the O2 Dome in London.
ADT’s strategy is to make significant investments in growth areas of our business that are more closely aligned with meeting the needs of our customers.