(FORTUNE Magazine) – Talk about hitting into hazards. Not only does the PGA Tour have the Augusta National flap to deal with (the club's men-only policy has sparked controversy), but in addition the weak economy is whacking Tour sponsors. Troubled energy concerns Dynegy and Williams both recently bailed. "We were looking to reduce our spending in sports marketing," says a Williams spokesperson of the decision. (Backers of the not-for-profit Tour must cough up between $4 million and $6 million a year.) Though the Tour lured Coca-Cola and Target as stand-ins, it's still trying to enlist sponsors for the events formerly known as the Xerox Phoenix Open, the Canon Greater Hartford Open, and Hilton Head's WorldCom Classic. Local residents have even taken up collections to try to save the Tour stops.

Golf Week's Gene Yasuda says that the Tour is "scrambling" for backers and notes that if it does have to cancel an event, as some speculate, it will be a first. Ed Moorehouse, the Tour's co-COO, says he's sure the 2003 season will proceed smoothly. Still, the Tour is two months late in releasing the official schedule as it hunts for donors. We're guessing that given the Augusta flap, Avon isn't interested. --Christopher Tkaczyk