Chances of the PGA Grand Slam returning to Port Royal Golf Course next year appear to be high.Sources close to Patrice Minors, the new Minister for Tourism, said she was ‘looking favourably' on bringing the event back to the Island.It has also been confirmed that Minors met with tourism guru Roddy Carr earlier this week.Carr, who has been heavily involved with the event in the past, has been part of the negotiations between Government and the PGA of America about bringing the Slam back to Port Royal.And with Works Minister Derrick Burgess, under whose purview Port Royal now falls, also said to be keen on seeing the event return, the hope is that a deal could be done sooner rather than later.In the current economic climate there were fears that the $1.5 million cost of staging the event might prove too rich for the new administration's blood, especially given the events of the past week which has seen the Bermuda Love Festival cancelled and the Minister admitting that she was toying with the idea of doing the same to the Bermuda Music Festival.“The decision of not continuing with the Bermuda Love Festival is being made primarily due to the challenging financial times we are currently experiencing,” said Minors.“As a ministry, we simply cannot expenditures which do not provide us a good value return on our investment.”The fears had been further compounded by complete silence from the PGA on the matter and the fact that when the Association released their schedule for 2011 there was no mention of the Grand Slam, in Bermuda, or anywhere else.After the end of October's tournament, when the deal to host the tournament ran out, it was suggested in some quarters that it had been nothing more than an expensive television commercial which had done little for Bermuda as a whole, and that the money would be better spent on attracting a larger number of smaller events.However local golf promoter Alex Madeiros, whose To A Tee company is reponsible for a large percentage of golf tourism on the Island, said that people who didn't see the benefit of the Slam were missing the point.While the $150,000 spent on the Love Festival pales into comparison alongside the $1.5m spent on the golf, the real benefit was in the amount that was pumped back into the local economy.“The Grand Slam provides local employment to many small businesses such as myself and although the focus tends to be on the $1.5m, I think people do not realise that a lot of that is put back into the local economy,” said Madeiros.