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Crisis fails to slow race for sponsors
11 September 2009
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*Article acknowledgement – John McAuley, Emirates Business 24/7
As corporate hospitality tents diminish and billboards boasting the names of high-profile sponsors disappear, the effects of the current economic downturn still haunt golf’s major tournaments.
Earlier this year, Volvo confirmed it would not extend sponsorship of its Asian event; Morgan Stanley cancelled its hospitality at the Memorial Tournament in June and last month General Motors ended its 17-year association with the Buick Invitational at Torrey Pines.
However, with only 10 weeks remaining until the Dubai World Championship, organisers of the climax to the inaugural Race to Dubai have signed deals with international brands such as Rolex, Polo – Ralph Lauren and CNN, with more expected to join in the next three weeks. The self-styled ‘Greatest Show on Earth’ seems to be living up to its name.
“We’re very lucky in that, having a flagship event like this, we’ve been able to attract top-level sponsors and we’ve other names we’ll be announcing in the very short future,” says Colin Smith, Director of Special Projects at Leisurecorp.
“It is difficult [to attract sponsors in the current economic climate] because companies are rationalising in respect to what their portfolio is, what they want to be involved in and which events they want to sponsor.
“But people have realised the value of the finale to the first Race to Dubai season and the value of the Dubai World Championship.”
Sixty of the world’s finest golfers will battle for the most lucrative purse in the sport’s history on Jumeirah Golf Estates’ newly designed Earth course on November 19. As the tournament continues to gain momentum, Smith is confident the excitement it has generated within the game will spill over to potential sponsors.
“The coverage the Race to Dubai has been getting has been fantastic,” he says. “Since it was launched in November last year, the weekly coverage has highlighted the event and got people excited. Recently when players were asked about Ryder Cup places they said their focus at the moment was very much on the Dubai World Championship and the Race to Dubai.
“So, when that shows the kind of excitement the players themselves are feeling, then it really comes across that we’ve a very impressive event here.”
Although the European Tour has yet to confirm it, recent reports have speculated the $10 million (Dh37m) prize money for the event has been reduced to $7.5m. Smith, though, insists the rumours have had little impact on his attempts to lure high-profile sponsors.
“No, it doesn’t affect us,” he says. “I’m not aware anything has been confirmed, but that’s really for the European Tour to talk about, not myself. But it’s had no impact on my role.”
