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Hong Kong Open is Yet to Have Its Sponsor

Hong Kong Open is Yet to Have Its Sponsor

The Hong Kong Open sought financial assistance from the government after the organizers became unsuccessful to find a sponsor for the event which costs an amount of $2.75 million.

The organizers’ effort to replace UBS as sponsor went futile. It gives them no other option but to once again seek government assistance to make the 54-year-old event possible this November. The Hong Kong Open is co-sanctioned by the European and Asian Tours.

Hong Kong Golf Association Chief Executive Iain Valentine told the South China Post, “We will be approaching the Mega Events Fund (MEF) in the next two weeks for funding. We hope we will get financial backing from the government once again.”

It was also reported that MEF provided the organizers last year with an amount of $1.03 million as assistance for the same event. The fund was intended to be used as appearance fees to help the tournament organizers attract world top players.

Last year’s tournament champion is world number one Rory McIlroy. He has not yet confirmed his participation to defend the title this year. “There is no guarantee Rory will turn up this year,” said Valentine. McIlroy’s appearance fee is anticipated to have increased after having two major championship victories. The event organizers are still looking forward for his return since it has become a tradition that champions come back to defend their titles.

Omega, a Swiss company, was reported to have rejected the event’s sponsorship. The company’s president Stephen Urquhart told the news team, “Our interests have moved on. We are looking at bigger events, especially in China.” The BMW Masters and HSBC Champions are all set to be held in China come October bragging with prize funds of $7 million.

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