Ponte Vedra Beach, FL (Best E Casino) - The PGA Tour announced Monday that it has discontinued its Atlanta-area tournament after efforts to find a sponsor for the event were unsuccessful.

The tournament -- called the AT&T Classic the last two seasons, and the BellSouth Classic for 15 years before that -- was operated by the Atlanta Classic Foundation.

"We regret having to notify the Atlanta Classic Foundation of this decision, but the absence of a title sponsor at this point has necessitated the move in order to solidify the schedule for the future," said PGA Tour commissioner Tim Finchem.

The tournament was part of the PGA Tour schedule for 42 years.

Finchem said there would be a new Champions Tour event held at the TPC Sugarloaf -- site of the PGA Tour event since 1997 -- beginning next season. A formal announcement was expected.

"[We] are excited that the history of tournament golf at TPC Sugarloaf will continue with what will be a premier Champions Tour event," said Finchem.

He said there would be changes to the 2009 PGA Tour schedule announced "in the next couple of weeks" following a meeting of the tour's policy board. It wasn't clear what would take the place of the Atlanta tournament.

"We are working through the process of filling the date," Finchem said.

Ryuji Imada won the last AT&T Classic in May, beating Kenny Perry in a playoff. Phil Mickelson won the tournament three times, and Tiger Woods claimed it in 1998.