Swiss banking giant UBS has taken title sponsorship of the 2010 Hong Kong Open golf tournament.
The deal, likely to be worth around US$4 million, sees UBS extend its five-year association with the event. The Hong Kong Open is co-sanctioned by the Hong Kong Golf Association, the Asian Tour and the European Tour, and is the penultimate event on the latter's calendar. This year's event is the first to be promoted by EurAsia Golf Ltd, a joint initiative operated by the Asian Tour and the European Tour. Players will compete for a total prize fund of US$2.5 million, with the winner taking home US$416,660.
Chi-Won Yoon, UBS Asia Pacific chairman and chief executive spoke of the organisation's delight at renewing its sponsorship, adding: "The UBS Hong Kong Open is a marquee tournament on Asia’s golfing calendar and emblematic of the highest levels of professionalism in the region. We look forward to continuing our long and successful partnership with the HKGA and welcoming players and spectators alike to this year’s event which, I am confident, will be as competitive as ever."
George O’Grady, chief executive of The European Tour, said: "The development of all aspects of the Hong Kong Open under UBS over the past five years is there for all to see and therefore, needless to say, we are delighted to see them continue as the title sponsor of the event."
Asian Tour Executive Chairman Kyi Hla Han said: "UBS has played a significant role in the recent transformation of the Hong Kong Open into a world-class golfing spectacle and we believe its continued involvement will further benefit the tournament and the game in Asia."
Frenchman Grégory Bourdy will defend his UBS Hong Kong Open title against some of the world's top golfers at the Hong Kong Golf Club in Fanling from 18th to 21st November.