Lee Jin-man
November 02, 2015

SHANGHAI (AP) HSBC is extending its golf sponsorship for five more years with the World Golf Championship event in Shanghai and the European Tour event in Abu Dhabi.

Financial terms of the wide-ranging sponsorship were not disclosed Tuesday.

The HSBC Champions, which starts Thursday, began in 2005 and was given WGC status in 2009. PGA Tour commissioner Tim Finchem says the prize money in 2016 will go up to $9.5 million, bringing it in line with the other American-based WGCs.

Giles Morgan, the global head of sponsorship and events for HSBC, announced a five-year extension for the Abu Dhabi HSBC Golf Championship, and a three-year deal to extend the HSBC Women's Champions in Singapore on the LPGA Tour.

HSBC also is a main sponsor of the British Open.

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