Yesterday, the PGA Tour made official what has been reported by Golfweek since late July: the Greenbrier Resort in West Virginia will host and sponsor the Tour event that will replace the now defunct Buick Open.  The announcement was made in Akron, Ohio, before the WGC Bridgestone Invitational.

The tournament will be known as the Greenbrier Classic and the signed contract has Greenbrier in their dual role through 2015.  The date for next year's event was confirmed to be the old Buick date, just two weeks before the PGA Championship.  Beyond next season, though, the date for the event has not been determined.

The event will be played on the Old White Course - one of three on the property today - which was opened in 1914.  A restoration of the course was completed in 2006.  The course will play to a par of 70 and to a length just shy of 7000 yards.

The resort itself has been in existence in some fashion since 1778.  It fell into bankruptcy and had lost its coveted five-star rating, which it had held for 33 years.

Enter local business giant Jim Justice, who sunk $20 million into the resort to lift it out of bankruptcy.  In just a few short months, Justice has worked hard to restore the reputation of the resort that calls Tom Watson its professionl emiritus.

The Tour & Justice both seemed really happy with their coup.

"We are absolutely delighted that The Greenbrier, recognized as one of the truly great resorts and golf destinations in the world, will become part of the PGA TOUR in 2010 with The Greenbrier Classic," said Commissioner Tim Finchem.

Justice made it evident that this event is a huge step in growing West Virginia tourism.  "Players and fans alike will be stepping into the American story and experiencing a true national treasure," said Justice. "The genuine warmth of West Virginia will resonate among all that join us."

The Tour can breath a small sigh of relief.  Between the Greenbrier and a pool of up to five potential replacement title sponsors at Torrey Pines, the Buick debacle should be smoothed over quickly.  The field that Greenbrier should attract will likely not include Tiger Woods or Phil Mickelson, but it is still a tournament. 

Since Justice and his Greenbrier resort are acting as host and sponsor, it is difficult not to draw comparisons to two other PGA Tour title sponsors in recent memory.  One is the Turning Stone resort in New York, which hosts a self-named Fall Series event - one that was angling to take the Buick Open date on the FedEx Cup part of the schedule. 

The other is Ginn, who inserted themselves into the world of golf development and tournament sponsorship in quite a whirlwind.  At one time, they sponsored four events between the LPGA, Champions, and PGA Tours.  Since the declaration of bankruptcy of one of their companies, Ginn has withdrawn all of its golf sponsorships.  Though it is extremely unlikely that Greenbrier would suffer the same fate as a company that exposed to the real estate bubble, it is difficult to not be skeptical that Greenbrier is a placeholder until the economy recovers.