The National Pro Golf Tour, one of the nation's mini-tours, had to shutter its remaining 2012 schedule, citing financial problems.
"I have personally used every resource I've had to keep this tour afloat and because of that I'm unable to fund the balance of the season on my own," said Larry Lunsford, owner of the National Pro Golf Tour, in an email to players on Wednesday. "Consequently all remaining events for 2012 have been canceled."
Five tournaments were canceled in total, including the National Open in October, considered a major championship on the tour, founded in 2009.
Lunsford has identified a sponsor, retail website Shop.com, for a three-year deal beginning next season. That sponsorship, however, was contingent upon the tour making it through the remainder of this season on its own.
Meanwhile, Lunsford is looking at options to get players paid for back purses, which has been an ongoing issue for the tour - playing out on tour's Twitter account over the last month.
"There is an investment group that is looking at a strategy to take over the tour, pay the players for back purses and refund everyone for the 5 canceled events," Lunsford wrote. "I am financially devastated by all of this and personally bankrupt. I have run out of options, but I'm willing to help with any transition to see that the players are paid and hopefully one that will save the tour."