(CBS Local)- Fred Ridley, the chairman of Augusta National Golf Club released at statement Friday morning announcing that the 2020 Masters Tournament scheduled to be played in the beginning of April, has been postponed due to the evolving situation surrounding the coronavirus pandemic.

In the statement, the chairman said that while the tournament had announced on March 4th that they would continue to hold the the event as scheduled, the “ever-increasing risks associated with the widespread Coronavirus Covid-19” caused the association to reconsider.

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Considering the latest information and expert analysis, we have decided at this time to postpone the Masters Tournament, the Augusta National Women’s Amateur and the Drive, Chip and Putt National Finals.

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Ultimately, the health and well-being of everyone associated with these events and the citizens of the Augusta community led us to this decision. We hope this postponement puts us in the best position to safely host the Masters Tournament and our amateur events at some later date.

We will continue to work with the World Health Organization, Centers for Disease Control and Prevention, the Office of the Governor, the Georgia Department of Public Health, the City of Augusta and all other local authorities. We are grateful to all of these entities for their exceptional efforts and guidance” 

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The statement went on to say that updates about the tournament would be posted to Masters.com as more information becomes available. The move to postpone the tournament comes in the wake of the PGA Tour’s decision late Thursday night to cancel the rest of the Players Championship and all events up through the Valero Texas Open.