UBS Shifts Sponsorship Strategy Away From Golf
UBS will not be renewing its multi-million dollar title sponsorship of the Hong Kong Open following the conclusion of this year’s event in December. The move is said to be part of a strategic shift in how the bank spends its sponsorship money.
“As part of a strategic shift in its sponsorship strategy away from golf, UBS has decided not to extend its title sponsorship beyond 2011," Kathy Shih, UBS CEO Wealth Management Asia Pacific said. "We very much appreciate having been involved in such a successful partnership with the Hong Kong Golf Assocation, The European Tour and the Asian Tour and we look forward to continuing to work with the partners to ensure the success of the 2011 UBS Hong Kong Open.”
“We understand UBS’s decision not to extend their contract based on a strategic shift in their sponsorship programme, but we thank them for their support and look forward to ensuring the good health of the Hong Kong Open with the continued backing of the Hong Kong government and a new sponsor," Keith Waters, The European Tour’s Chief Operating Officer, remarked. “We understand UBS’s decision not to extend their contract based on a strategic shift in their sponsorship programme, but we thank them for their support and look forward to ensuring the good health of the Hong Kong Open with the continued backing of the Hong Kong government and a new sponsor.”
The Hong Kong Open, first played in 1959, has developed into a popular destination on The European Tour International Schedule. Past champions include Peter Thomson, Greg Norman, Ian Woosnam, Bernhard Langer and Tom Watson and more recently José Maria Olazábal, Padraig Harrington, Miguel Angel Jiménez and Colin Montgomerie have been crowned champions.
“We are indeed grateful for the passion and commitment which UBS have injected into the Hong Kong Open over the past seven years," Kyi Hla Han, Executive Chairman of the Asian Tour said. "Their involvement has no doubt escalated the stature of one of Asia’s finest national championships and raised the benchmark for other tournaments to emulate.”
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