European Tour to stage world's richest event

The European Tour is to stage the world's richest golf tournament in Dubai - but not until November 2009.

Confirmation of the $10 million US dollars Dubai World Championship and an Order of Merit bonus pool worth the same amount came today.

European Tour chief executive George O'Grady said: 'This is so much more than a tournament sponsorship.

'It is a long-term partnership which will see the European Tour and Dubai joining together to significantly enhance the game worldwide and take golf to a new level for spectators everywhere.'

The Order of Merit will be renamed The Race to Dubai and the number one player will receive a bonus of  $2 million. The will also be a tournament first prize of  $1.66 million.

The Dubai announcement is a significant milestone in the development of the European Tour, which for so long has been hoping to hit back at the financial clout of the American circuit.

The first five years of their new partnership with Leisurecorp, the company developing Dubai's leading residential golf community, will also see the construction of a new international headquarters for the European Tour and the creation of a global property company to develop new tournament venues around the world.

The inaugural Dubai World Championship will take place at Leisurecorp's Jumeirah Golf Estates between November 19-22 on either the Fire or Earth course.

Both have been designed by Greg Norman and the complex also includes a Water course designed by Vijay Singh and a Wind course carrying the names of Norman, Sergio Garcia and American designer Pete Dye.

The agreement signed between Leisurecorp and the European Tour includes an option to extend for a further five years.

Fittingly, the deal was announced at Dubai's Burj Al Arab Hotel, at over 1,000 feet the world's tallest hotel and one which has characterised itself as the world's only 'seven-star' property.

O'Grady added: 'The scale of this agreement is testament to the vision of Dubai and its ruler His Highness Sheikh Mohammed bin Rashid Al Maktoum, who has recognised the dynamic role golf can play in developing the global profile of this amazing city.

'It is also testament to Sultan Ahmed bin Sulayem (chairman of Leisurecorp's parent company Dubai World), who has been instrumental in turning that vision into reality.

'The Race to Dubai will bring a new dimension to the European Tour, creating great drama and theatre throughout the year as all the best players in the world are given the opportunity to compete in the world's richest tournament.

'Moreover, as the European Tour has become ever-more global in its outlook it has become increasingly important to us to have an international base in a strategically-placed location.

'Dubai is a massively important and growing hub, with outstanding air links to all our locations, and the perfect place for us to offer a tailor-made service to all our members through the Centre of Excellence at the European Tour International Headquarters.'