Barclays cites “market factors” for ending Scottish Open sponsorship

Organisers of the Scottish Open are on the lookout for a new title sponsor after banking giant Barclays decided to bring an end to its 10-year partnership with the golf tournament.

Tim Peat of Barclays Capital said that “market factors” had led to the decision to end the deal, but added that the bank would maintain “a significant presence in professional golf” with continuing sponsorship deals for golf events in the United States and Singapore. Barclays has sponsored the Scottish Open since 2002 and the organisers are hoping to recruit a new partner for the 30th anniversary of the event next July.

“We thank Barclays for their vision and leadership,” said European Tour chief executive George O’Grady. “We respect and understand that their decision was based on market factors following a hugely successful partnership that has lasted almost a decade.”

O’Grady added: “The combination of a world-class title, prime date in the week immediately before the Open Championship and stunning location in Scotland – the Home of Golf – make this a particularly attractive proposition and we look forward to securing the future of the Scottish Open with a new sponsor.”

Previous winners of the event during Barclays’ sponsorship include Ernie Els, Martin Kaymer and Graeme McDowell. Luke Donald claimed the 2011 title thanks to a closing 63 at the competition’s new home of Castle Stuart, near Inverness

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