Wednesday 8 October 2014 18:46, UK
Volvo have announced they are withdrawing their sponsorship from two of the biggest events on the European Tour schedule.
The Swedish car manufacturer, who have been associated with the European Tour for 27 years, will no longer back the World Match Play Championship or the South African-based Golf Champions event from next year.
A week ahead of the Volvo World Match Play at the London Club in Kent, the company confirmed they would focus solely on the Volvo China Open for the foreseeable future.
A Volvo statement read: "Focus will turn to one of the brand's key markets - China. The programme around the Volvo China Open with its 20 years' history will be enhanced further, with a new five-year agreement in place."
Focus will turn to one of the brand's key markets - China.
European Tour chief operating officer Keith Waters said: "We would like to place on record our sincere thanks to Volvo for their superb support over the past 27 years, and we look forward to continuing our association with them through the Volvo China Open.
"We anticipate releasing the initial sector of The 2015 European Tour International Schedule next week, and the full schedule of tournaments will be published next month during the week of the season-ending DP World Tour Championship, Dubai."
Sports management agency IMG, who organise and promote a number of events on the European Tour, responded to the announcement by claiming they were confident of finding new backing for the World Match Play and the Golf Champions tournament next year.
"IMG and the European Tour are committed to running the Championship in 2015 and talks are already under way with interested parties regarding the position of title sponsor," said a statement.
"We thank Volvo for their support and look forward to celebrating the 50th anniversary of this historic event with them at the London Club next week.
"We are working with the European Tour to find a solution for the Golf Champions tournament as we both believe it is a strong event which should have a place on the European Tour schedule."
Don't miss live coverage of the Portugal Masters and the Frys.com Open, both starting this Thursday on Sky Sports 4.
