The European Tour has announced that the prize money for The Race to Dubai Bonus Pool and the Dubai World Championship will be reduced by 25 per cent to $7,500,000 each, making a total purse now of $15,000,000.
First prize for the Bonus Pool will be US$1,500,000 and first prize for the Dubai World Championship will be US$1,250,000.
George O’Grady, Chief Executive of The European Tour, following a three day visit to Dubai, said: “We have been assured that our agreement is proceeding substantially as planned. The Earth course at Jumeirah Golf Estates looks superb, and work is being completed on the public areas, car parks, and access roads for the Dubai World Championship on 19-22 November.
“The European Tour has offered to reduce the prize money to reflect the current worldwide economic position and we will jointly examine prize money levels in future years in the light of this developing global situation.”
Hamza Mustafa, Managing Director of Nakheel Leisure, said: “Nakheel is committed to The Race to Dubai and the Dubai World Championship. The prize funds for both competitions are significant amounts that are worthy of the season-ending tournament and world-class field that will be competing, yet reflective of a new economic climate. We look forward to staging an excellent Dubai World Championship on our outstanding new Earth course at Jumeirah Golf Estates in November.”
The Race to Dubai – a season-long competition for the world’s leading golfers – will qualify the Number 1 to 60 players for the Dubai World Championship following which the 15 top ranked players will share the Bonus Pool.
The winner of The Race to Dubai will earn US$ 1,500,000 and receive a seven year European Tour exemption, and the winner of the Dubai World Championship will win US$ 1,250,000 in addition to a five year European Tour exemption.
The European Tour’s original five-year contract with Leisurecorp was taken over by Nakheel Leisure earlier this year. Despite speculation that the contract may be terminated early the official line continues to be that the deal will run its full term.
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