SPORTACCORD 2024 INSIGHTS: Sport’s Perfect Storm
23 May 2024 14:34
HSBC is considering ending its sponsorship of its flagship golf tournament, the WGC-HSBC Champions in Shanghai, as the contract expires this year, a senior official told AFP.
HSBC global head of sponsorship Giles Morgan said the British bank was currently evaluating its association with the $8.5 million (Dh31.2m) event, one of four World Golf Championships (WGC) held worldwide.
Morgan added that sponsorship of the HSBC Women’s Champions in Singapore, one of the US LPGA tournaments played in Asia, was also under review.
“This is our last year of our golf portfolio, so we are in discussions with everybody,” Morgan said on the sidelines of the Sports Matters industry conference in Singapore.
“We’ll make announcements when we’ve decided and figured out. Contracts come to an end. So you then have to go through a process of doing quite a lot of analysis about has it worked, are we getting what we want, are they getting what they want? Is the partnership working?
“And then we sit down in a room and make decisions. We’re in the middle of that process right now.”
The HSBC Champions has been a highlight of the Asian golfing calendar since it debuted in 2005, before joining the four-stop World Golf Championships series in 2009.
The next WGC-HSBC Champions in November will be the 10th edition at Shanghai’s Sheshan golf club. It has also been held at Mission Hills in Guangdong, southern China.
Taken from TheNational
Related coverage
Wanda-backed Jewel to sponsor ITU World Triathlon Gold Coast
18 Mar 2016
PGA Tour China to resume in 2018
26 Oct 2017
Hisense to sponsor 2016-2017 China Badminton Super League
06 Dec 2016
Hyundai drop China Ladies Golf Open sponsorship
04 Sep 2017
Yingli to sponsor Bayern Munich Youth Cup
16 Mar 2015
More from Yutang Sports
Gender equality will be reflected at OBS's coverage of the Paris 2024 Olympic Games
16 Apr 2024
Interview with Yiannis Exarchos: to narrate Olympic story in new ways and promote positive values
01 Jul 2024
SportAccord 2024 makes a memorable return to Birmingham
13 Apr 2024
SportAccord Plenary Conference had fruitful talks about the soft power of sport
17 Apr 2024
SPORTACCORD 2024 INSIGHTS: Major Technology Trends Shaping Sports Sector
03 Jun 2024
Yutang Sports
loading...