European Tour poised to sign biggest ever commercial deal with DP World
Dubai skyline. Picture © Tim.Reckmann
The European Tour is poised to announce a brave new dawn today when it reveals details of a new mega-deal with DP World that will add hundreds of millions of dollars to its coffers.
Although details of the agreement will not be revealed until CEO Keith Pelley hosts a press conference with speakers from DP World at EXPO 2020 in Dubai this morning, it’s understood it will be a game-changer for the tour, which was badly affected by the COVID-19 pandemic.
Dubai-based DP World is one of the world's biggest logistics companies with cargo and port terminal operations in over 40 countries.
It is owned by the government of Dubai and had total assets of US$26.51 billion in 2018.
The company first became involved with the European Tour in 2009 when the Order of Merit was replaced by the Race to Dubai, culminating in the $7.5m Dubai World Championship presented by: DP World.
The event was renamed the DP World Tour Championship, Dubai, in 2012, when Rory McIlroy claimed the title and the Race to Dubai for the first time.
However, this new deal is expected to expand far beyond the season-ending event, providing the European Tour enormous financial clout in what is believed to be its biggest ever commercial deal.
The move comes a year after the European Tour announced a Strategic Alliance with the PGA TOUR and three months after that partnership led to the announcement that the Genesis Scottish Open, the Barbasol Championship and Barracuda Championship will be included in both the FedExCup and Race to Dubai in 2022.
A spin-off from the Alliance has led to the Irish Open prize fund ballooning from €3 million this year to $6 million (€5.17 m) in 2022.
Key dates on the 2022 schedule will be revealed today with the Irish Open expected to be staged at Mount Juliet from July 7-10, just days after the JP McManus Pro-Am at Adare Manor (July 4-5).
The new deal with DP World comes at a time of flux in the world of professional golf with two potential rivals to the status quo emerging in the Saudi Golf League (SGL), now working under the name LIV Golf Investments with Greg Norman as its frontman, and the Premier Golf League (PGL).
It's a good time to be a top player and West Waterford's Seamus Power is a man on the rise after moving to a career-high of 89th in the world following his tie for 11th in the World Wide Technology Championship at Mayakoba — the 10th top-25 finish by the Barbasol Championship winner this year.
Power, who joins Shane Lowry and Graeme McDowell in this week's Hewlett Packard Enterprise Houston Open, is a career-best 36th in the FedExCup standings.
On the European Tour, 59th ranked Pádraig Harrington, 98th-ranked Jonathan Caldwell play the AVIV Dubai Championship looking to make the top 50 who contest next week's DP World Tour Championship.
On the LPGA Tour, Leona Maguire and Stephanie Meadow play the final event of the regular season, the Pelican Women's Championship, in Florida from Thursday.
Maguire is 16th in the Race to CME Globe Points list and looking to win before next week's season-ending CME Group Tour Championship, while 101st ranked Meadow must break into the top 100 to keep her card.
