GameSpot News has learned that Interactive Magic has signed a letter of intent to lease the rights for Online Golf Challenge, an Internet multiplayer golf competition featuring a special free client version of the Links LS 98/99 engine.

　　The Online Golf Challenge offers special membership rates, and cash prizes for winning the different challenges. For instance, the highest-ranking Platinum Challenge winner wins US$10,000 while the lowest-rank amateur Bronze Challenge, which costs $10 to enter and offers a $300 purse for winners. There are six winners for each challenge, and challenges run every few weeks.

　　Last week during a teleconference, Interactive Magic, CEO J.W. "Wild Bill" Stealey, had mentioned the incorporation of a premium service "Competition Golf" game would be up and running on its gaming network (iEN); the exclusive use of the Online Golf Challenge would then fit the bill nicely.

　　Our sources indicate that I-Magic will buy the rights to run the game for the next three years, with an option to extend that contract for an as-yet-unknown amount of money - quite possibly, a bit of the cash came from the sale of I-Magic's CD-ROM division to Ubi Soft Entertainment. I-Magic will apparently sign the contracts later this week or next.

　　Representatives from both Interactive Magic and the Online Golf Challenge offered no comment.