HSBC to sponsor Abu Dhabi tournament

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Associated Press

Posted on September 22, 2010 at 5:00 AM

Updated Wednesday, Sep 22 at 5:00 AM

ABU DHABI, United Arab Emirates (AP) — Organizers of the Abu Dhabi Golf Championship say HSBC has taken over sponsorship of the event, boosting prize money by $500,000 to $2.7 million.

The increased purse bucks a trend in the United Arab Emirates which has seen prize money hit by the economic downturn. The Dubai World Championship, for example, has cut its prize money by 25 percent to $7.5 million.

Organizers expect that five of the world's top 10 golfers to compete at Abu Dhabi Golf Club from Jan. 20-23. They confirmed Wednesday that last year's winner Martin Kaymer will play, along with the English duo of Paul Casey and Lee Westwood.

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