State Farm will drop LPGA tourney sponsorship

SPRINGFIELD — State Farm has decided this year's LPGA State Farm Classic will be the last sponsored by the insurance company.

State Farm vice president Mark Gibson said Friday the Bloomington, Ill.-based company continuously evaluates its sponsorships and made a "strategic business decision not to renew."

Kate Peters is executive director of the LPGA State Farm Classic said in a statement she is disappointed by the decision.

Peters said the tournament will start working immediately to find a new sponsor.

State Farm began sponsoring the tournament in 1992, when changes to the LPGA tournament structure placed its spot on the tour in jeopardy.

The tournament will be held in June at Panther Creek Country Club.

State Farm says it will continue to support the designated charities after it ends its tournament sponsorship.