The event has been known by other titles, which are shown in the Winners section below. In 2009, the purse will be $4,200,000, with a $756,000 first prize. In 2002, under a previous sponsor, the purse was $5,000,000 ($900,000 to champion), and has never been as high since. The tournament was founded in 1983. Until 2003, this tournament was played over five rounds over several other courses. Tiger Woods recorded his first PGA Tour win here in 1996.
The tournament announced that the Shriners Hospitals for Children would take over the operations of the tournament, and that the Las Vegas Founders, a volunteer group, would no longer be involved with the event. Fry's Electronics, chief presenting sponsor in 2006 and 2007, also ended their association with this event, choosing to concentrate on a second tournament in Arizona that it was already sponsoring. On November 12, 2007, the PGA Tour announced that Timberlake would become host of the tournament, and also announced the event's new name. Timberlake, an avid golfer who plays to a 6 handicap, will play in the celebrity pro-am and host a benefit concert during the week of the tournament.
This event became the first PGA Tour event in history to offer a total prize purse of more than $1 million. A tradition at the tournament is presenting the trophy to the champion while two showgirls are a part of the pomp and circumstance.
