Hsbc Pulls Plug On World Match Play

HSBC’s much-vaunted title sponsorship of golf’s World Match Play Championship at
Wentworth is to end early after the global banking giant announced it was
to withdraw its association after this year’s event.

The bank has decided to withdraw its title backing of the tournament in order
to switch its focus to the Champions event in China.

HSBC signed a 10-year deal to sponsor the event in 2003 creating a £1m first
prize – the biggest such purse in the history of the sport at the time of
announcing.

HSBC also introduced a qualifying system for the tournament based on
performances in the majors.

A prepared statement from the bank read: ‘The sponsorship has been a great
success in introducing the brand to golf and helping to establish it as a
sponsor of the game worldwide.

However, HSBC constantly evaluates its sponsorships and while our commitment
to golf remains unchanged, a business decision has been made to concentrate on
supporting the game in the UK at grassroots level to target specific HSBC
customers (e.g. seniors etc.).

‘The World Match Play has taught us a lot about golf and led to the success
of the HSBC Champions in Asia. This tournament has grown faster than we could
have hoped and means that now is right time to make this decision.’

‘It’s been a very difficult decision,’ added HSBC head of global sports
marketing and sponsorship Giles Morgan. ‘We’ve had five great years, but have
decided as a business it’s time to move on.

‘We are going to leave on a high this year. We want to make it the best ever
and go out with a bang. It’s a brilliant event and I think we have helped to
rebuild it.’