Hong Kong Open seeks government bailout
Monday, September 10, 2012
The Hong Kong Open, sponsorless for the second consecutive year, is seeking a government bailout to ensure its staging in November.
According to the South China Morning Post, Hong Kong Golf Association executives hope to tap the government’s Mega Events Fund to proceed with the event, scheduled for Nov. 15-18. The same fund was used to rescue the 2011 tournament and help pay appearance money to attract marquee players.
The event, which is co-sanctioned by the European and Asian Tours, was won by Rory McIlroy last year. Thus far, he hasn’t committed to defend his title.
“We will be approaching the Mega Events Fund (MEF) in the next two weeks for funding,” Iain Valentine, Hong Kong Golf Association’s chief executive, told the Post on Sept. 7. “We hope we will get financial backing from the government once again.”
According to the newspaper, the MEF provided the tournament approximatey $1.03 million in 2011.