Global downturn hits European Tour's major tournament

Dubai World Championship prize

money is slashed by 25 per cent

The European Tour have confirmed that prize money in the season-ending Dubai World Championship is being cut by 25% because of the economic downturn.
There will be the same reduction - from £6.1million to £4.6million - in the 'Race to Dubai' bonus pool on offer to the season's top 15 money-winners.
If a player manages to win both the tournament and the 'Race to Dubai' money list, they will now walk away with £1.7million rather than £2.2million.
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What might upset some of the 60-strong field on November 19-22, however, is that there is now more on offer from finishing top of the bonus pool than there is for claiming victory at the event. One will receive £928,000 and the other £773,000.
The reduction follows talks in the United Arab Emirates 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.
"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."
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."