Palm Beach Gardens, FL -- (Sports Network) - The PGA of America announced on Tuesday that Bermuda's Port Royal Golf Course has been named the site of the PGA Grand Slam of Golf for the years 2009 and 2010.

The event features the winners of the four major championships, the Masters, U.S. Open, British Open and PGA Championship. The two-day, 36-hole event features a $1,350,000 purse, with a first-place prize of $600,000.

Angel Cabrera won the 2007 title in a playoff over Padraig Harrington. The 2008 event is being staged for the second consecutive year at Mid Ocean Club in Bermuda, as Jim Furyk, Retief Goosen, Padraig Harrington and Trevor Immelman battle it out.

The 27th installment of the PGA Grand Slam of Golf will be staged on October 20-21, 2009.

Port Royal was designed by the legendary golf course architect Robert Trent Jones Sr. and has undergone a $13.7 million renovation. The course, which is expected to re-open in January of 2009, has been extended 281 yards to 6,842 yards.

"The PGA of America is honored to continue the PGA Grand Slam of Golf tradition on the island of Bermuda at Port Royal Golf Course," said PGA of America President Brian Whitcomb. "Bermuda's combination of unmatched hospitality and community support for the PGA Grand Slam of Golf has enhanced the season-ending meeting of the game's elite foursome. We look forward to working with all of our friends in Bermuda in presenting the PGA Grand Slam of Golf next fall to the world."

Past winners of this event read like a who's who of stars, including world No. 1 Tiger Woods, who captured this title seven times. Other past champions include Greg Norman, Phil Mickelson, Ernie Els and Jim Furyk.