HONOLULU —  Organizers of the Kapalua LPGA Classic in Hawaii have pulled out of their contract to host the annual LPGA event through 2012.

LPGA deputy commissioner Libba Galloway said Tuesday in a news release that the association is "extremely disappointed" with the decision not to conduct the event in October. She says the LPGA will vigorously enforce its legal rights under the contract.

The LPGA says the Kapalua Land Co. is the contract holder.

The company is a subsidiary of Maui Land & Pineapple Inc. It lost $70.6 million in the quarter that ended Dec. 31, compared with a $4 million loss in the prior year's same quarter.

A call to MLP seeking comment wasn't immediately returned.

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