Tiger Woods could be playing in one of the world's most prestigious golf tournaments in Bermuda next year.

The Island is on the verge of securing rights to host the US PGA Tour's Grand Slam at Mid Ocean Golf Club next October and again in 2008.

Bermuda will have to fork out $1.5 million to attract the exclusive tournament, which pits the champions of the game's four majors, The Masters, US Open, British Open and the PGA Championships, against one another in front of TV audiences in more than 100 countries.

Even though the final contract has yet to be signed, Deputy Premier and Tourism Minister Ewart Brown expects the deal to be sealed at this year's PGA Grand Slam in Hawaii next month.

"One of our top priorities has been to attract a televised golf event that will deliver the best players in the world to showcase Bermuda as a world class golf destination," said Dr. Brown.

Referring to the event as "golf's most exclusive field" the Tourism Minister said: "It fits our objectives perfectly.

"The event will be broadcast live on TNT, which will reach an audience of 89 million US homes and an international audience of more than 100 countries in a prime-time telecast.

"Next year's major champions, expected to include Tiger Woods, will compete for a purse of $1.25 million with the winner receiving $500,000, second place $300,000, third place $250,000 and fourth place $200,000."

Dr. Brown said the event received broad exposure to 28,000 PGA professionals across the States and had delivered the best players in the world for the past ten years.

He thanked IMG World Consultant Roddy Carr for helping in efforts to secure the event.

Asked how much Government had agreed to pay in order to secure the tournament, Dr. Brown said $1.5 million, adding: "We think it's a great bang for the buck, so to speak, because of the exposure that we will get when we are able to showcase Bermuda's beaches, Bermuda's people and various attractions in Bermuda on TNT at prime time. If we had to pay for that exposure simply by buying commercial time we would have to pay a lot more."

Dr. Brown said the likely golf course for the tournament would be Mid Ocean and discussions were almost complete to guarantee that the course hosts the event.

Also speaking about the success of this year's 11th Annual Bermuda Music Festival, Dr. Brown said it had exceeded the goal of attracting 2,000 visitors and ticket sale revenue had increased from $600,000 last year to $785,000 this year.

As a result of the festival, a donation of $1,700 has been made to the Bermuda Scout Association.