HSBC creates biggest prize in US & European golf

20 March 2003

HSBC, the world’s second largest bank, is to sponsor the World Match Play Championship at Wentworth, UK, creating a first prize of £1m, the highest in the history of US and European golf.

The 10-year deal (2003–2012) with tournament founders and organisers IMG includes a total annual prize fund of £2.3m.

To ensure its status as the world’s premier match play championship, qualification will be based on a new ranking system, the ‘HSBC Major Championships Ranking’. This will measure and rank players based on their performance at the year’s four ‘Major’ championships. The 12 qualifying players will be:

• The defending champion (Ernie Els in 2003).
• The world no 1.
• The 10 leading players from the HSBC Major Championships Ranking.

The HSBC World Match Play Championship also remains the world’s only match play event with all matches contested over 36 holes.

This year’s inaugural HSBC World Match Play Championship will be held 16-19 October, over Wentworth Club’s world famous West Course, where the 40th anniversary of the event will be celebrated.

Announcing HSBC’s sponsorship, Sir John Bond, HSBC Group Chairman said: “Golf is one of the most popular and fastest growing sports worldwide. This sponsorship is an excellent fit with the geography of HSBC’s business, and the lifestyles of our customers.

“The game has enormous appeal in both the developed and emerging markets HSBC serves. In the US, the world’s largest golf market, there are some 37 million players. Meanwhile, in the UK, nearly three out of 10 HSBC customers describe themselves as golf fans.

“In developing markets, interest in golf is also booming. Asia is already home to a third of the world’s golfers, and in China the number of golf courses has grown from just eight to more than 130 in a little over 10 years, with a further 60 courses under construction. Today, an estimated
1 million Chinese people play golf.

“We expect this sponsorship to give the HSBC brand excellent visibility around the world. Over 210 million people followed last year’s championship at Wentworth; under HSBC colours and with a revitalised format, we aim to make this one of golf’s premier championships.”

Andrew Hampel, IMG’s Senior International Group Vice-President, added: “IMG welcome HSBC’s commitment to the World Match Play Championship. Since Arnold Palmer won the first trophy in 1964 the World Match Play at Wentworth has become a special part of world golf. HSBC’s 10-year sponsorship allows us to continue to build the Championship and the first £1 million prize in US and European golf reflects the event’s stature as the most prestigious match play tournament in the world.”

Ernie Els, the defending champion sent a special message of support to the new HSBC World Match Play Championship, saying: “I want to congratulate HSBC for stepping in as new sponsors for the World Match Play, and for upping the first prize money to £1 million, quite unheard of on our European Tour. It will be an unbelievable event and I can’t wait to defend my title at the Wentworth club later this year.”

Kenneth D. Schofield CBE, Executive Director of the PGA European Tour, concluded: “We welcome and congratulate HSBC’s sponsorship of the World Match Play Championship. The 40th edition of this famous championship will continue one of the most enduring relationships in golf with world class challengers gathering at Wentworth Club, which rightly commands a very special place on the international golf scene. We know that IMG is justifiably proud of the World Match Play Championship and we look forward to another superb event.”