HSBC renews sponsorship across Asia, Europe

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.

SI Apps
We've Got Apps Too
Get expert analysis, unrivaled access, and the award-winning storytelling only SI can provide—from Peter King, Tom Verducci, Lee Jenkins, Andy Staples, Grant Wahl, and more—delivered straight to you, along with up-to-the-minute news and live scores.