HSBC Considering Extending Sponsorship Of Abu Dhabi Event On European Tour

Global bank HSBC has one year "left on the sponsorship contract with the popular Abu Dhabi event on the European Tour," according to Steve Elling of THE NATIONAL. HSBC "also stages a co-sanctioned World Golf Championships tournament called the HSBC Champions, an event on the LPGA, a tournament in Brazil and also underwrites the Open Championship. All five deals expire at some point next year." That "was by design." The bank "will take a long look at whether it will continue with golf sponsorship at current, higher or lower levels." Last weekend, HSBC Head of Global Sponsorship & Events Giles Morgan said, "Whether we continue them all or not, that will all be busy with lawyers and contracts and the rest of it" (THE NATIONAL, 1/20).