UBS Back As Sponsor In Massive Boost For Hong Kong Open Golf Tournament

Swiss bank UBS "will make a surprise return as title sponsor of the Hong Kong Open in October, signalling a dramatic upswing in fortunes for the prestigious golf tournament," according to Noel Prentice of the SOUTH CHINA MORNING POST. Three years after ending an eight-year relationship with the Hong Kong Open, the bank said that "the time is right to again invest in golf and the tournament." The multi-year deal, on top of a HK$15M ($1.9M) injection from the government’s Mega Events Fund, is a huge boost for Open organizers, which "have struggled to keep the tournament afloat since UBS pulled out in 2012." The Hong Kong Golf Club "was forced to dip into its own pockets to save the event in 2013 and again last year." But the return of UBS brings an immediate $700,000 boost in prize money -- to $2M -- "and the government’s re-engagement promises two players in the world’s top 10 will appear at the Hong Kong Golf Club in Fanling from October 22-25" (SCMP, 7/20).