"It's possible we could lose a couple of events; it's probable that we're going to lose some sponsors," Finchem told the media on Wednesday, as reported by Reuters.
US carmaker Buick, a brand of General Motors, pulled its title sponsorships on the tour last month, resulting in the loss of two events, although a new home was found for Michigan’s Buick Open at The Greenbrier course in West Virginia.
"You lose a title sponsor to an event and you can't keep that particular tournament going,” said Finchem.
He said that although marketing budgets were down, and this would “take a while” to improve, business attitudes to sponsorship had now become more “forward-looking”.
"The doom and gloom has largely been replaced by very strong concern about the existing economy but a much more forward-looking focus ... which allows you to get some business done," he said.
"We are getting some business done. The good news is we've had a lot of good extensions well out into the future. I think we're going to have some new sponsors, additional new sponsors, over the next two or three years.
"I'd characterise the situation as good, maybe even comparatively quite good, when you look at other enterprises. But certainly we have our challenges ahead of us."
