This year’s PGA Grand Slam of Golf will be the last to be held in Bermuda, it was announced this afternoon.

The PGA of America and the Bermuda Tourism Authority (BTA) confirmed the event, now in its eighth year on the Island, would return to the mainland US by mutual agreement.

“The partnership between the PGA of America and Bermuda has been enormously successful — I think we can say ‘job well done’, for all involved,” said Bill Hanbury, chief executive of the BTA.

“When the concept of hosting the Grand Slam in Bermuda was first conceived, it was about establishing Bermuda as a pre-eminent golf destination. It was recognised that Bermuda needed to up its golf profile and establish its credibility as a golf destination — these objectives have been more than fulfilled.

“The BTA is working on a number of alternatives in the golf world and other global sports event options that can generate positive economic impact.

“A good example of this is the BTA’s important role in the development of the Americas Cup proposal on behalf of Bermuda.

“Bermuda and her two premier golf courses, Port Royal and Mid Ocean, can always boast of being home of the PGA Grand Slam of Golf during its eight-year tenure here. We are very, very proud of that fact.”

Mr Hanbury also thanked the PGA of America for the “faith they have placed in Bermuda over eight years”.

“We look forward to continuing to work with them, discussing new ideas with even greater potential,” he added. “They have become more than important partners, they are good friends to Bermuda and the relationship will continue.

“As with everything, events evolve and we believe that this decision is in the best interest of both Bermuda and the PGA.”

The PGA did not say where the Grand Slam would be held from now on.

David Charles, senior director for the Championships for the PGA, said: “We have loved working in Bermuda and have formed real partnerships and meaningful friendships.

“We are working on a new location for the Grand Slam and details have yet to be released but it will be on the US mainland.

“The PGA and BTA are working very hard to make the eighth PGA Grand Slam of Golf in Bermuda the best ever. We wish Bermuda every success in the future and we know we will continue our relationship with them.”

The BTA and PGA also paid tribute to event partner, Fairmont Southampton Resort, and the 200-plus volunteers that supported the event.

Andy Burrows, general chairman of the PGA Grand Slam of Golf committee, said: “I would like to thank our key partners and all of the volunteers who gave generously of their time over the past eight years to ensure that the Grand Slam was very successful.

“Clearly the role that each and every one played was critical in supporting and promoting our stunningly beautiful island and Bermuda’s premier sporting event since 2007 to the world.

“As Bermuda moves on to hosting other world-class events, I remain confident that these dedicated volunteers will continue to lend their support to ensure that Bermuda remains a destination of choice for golf and all other sporting and cultural events.”