PHOENIX, Arizona (October 12, 2012) – DFE Investment Group LLC and the National Professional Golf Tour (NPGT) have agreed to a deal that will allow the Phoenix based investor to take over total control of tour operations beginning almost immediately.
DFE Investment Group LLC did not purchase the tour but instead reached a deal with the NPGT to come in and completely re-organize the tour from top to bottom. They will start by putting together a budget to pay the players any back-purse money owed, restructure internal operations and put a new face on the tour.
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The NPGT was considered by many to be the top developmental tour in the country before falling on hard times mid-season. The tour hit a brick wall when efforts to secure a title sponsor for 2013 failed. “Because the tour was unable to find a suitable title sponsor, our investors were unwilling to continue funding the tour,” said NPGT Commissioner Larry Lunsford. “We made the mistake of putting all of our eggs in one basket and we paid a terrible price for doing so.”
Lunsford will step down as commissioner and hand over complete control of the tour effective October 12th. “In the weeks leading up to the final agreement I have become very familiar with the new owners and it is clear to me that their main objective is to provide the players with the best possible tour available,” said Lunsford. “This has all the makings of a real success story.”
The NPGT will continue with many of the things that made it so popular with the players such as emulating the PGA Tour by holding events all over the country, playing top quality courses, keeping entry fees low and keeping purses at a level that the players can actually make a living if they play well.
“I appreciate the vision that the NPGT was built on and I’m committed to bringing those same innovative ideas that will change the landscape of developmental golf in this country forever,” said Dusty Dean, president of DFE Investment Group LLC. Dean is a 39 year old entrepreneur who is skilled in developing build and transfer models in the call center industry and more importantly, is an aspiring professional golfer. He has spent the last 12 years of his life in the same pursuit as many of the mini-tour players.
“I understand that we are not the first to ‘talk big’ and of course it will take time to build everyone’s trust, but I can say that we are dedicated to building a tour that is 100 percent focused on what is best for the players and the future of developmental golf,” said Dean. “We will let our actions do the talking.”
Preparations for the tour’s 2013 season are underway and will be led by the President of Tour Operations and Player Relations, Kevin O’Connell, a 10 year veteran of the mini-tour circuit. The NPGT plans to release more information regarding the future of the tour and many new components over the coming weeks including new sponsors, plans for a TV production and the 2013 qualifying school and regular season schedules.
Any questions or comments about the tour should be directed to Dusty Dean at dusty@nationalprotour.com or Kevin O’Connell at kevin@nationalprotour.com.
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