| Kippreport.com

Dubai cuts prize by 25pc

September 22, 2009 7:32 by kippreport

The European Tour confirmed that prize money in the Dubai World Championship has been reduced by 25 percent due to the effects of the financial crisis on Dubai’s economy, agencies reported on Monday.

A similar reduction has been made to the ‘Race to Dubai’ bonus pool.

The reduction follows talks in the UAE last week between tour chief executive George O’Grady and event sponsors Nakheel.

O’Grady said: “The European Tour have 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.”

He added: “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.”

Tags: Dubai World Championship, European Tour, nakheel, prize money, reduction