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DJMN: HSBC Slashes Prize Money Of Women's Champions Golf Tournament
SHANGHAI (AFP)--Global banking giant HSBC Holdings PLC (HBC, HSBA.LN, 0005.HK) said Saturday it was renewing its sponsorship of the Women's Champions tournament for the next three years, but prize money would be slashed.
The tournament regularly attracts the world's top 10 players, but as the global downturn bites, the prize purse will be reduced in 2010 by $700,000 to $1.3 million.
It will remain in Singapore until at least 2012.
The USLPGA Tour event, won last year by South Korea's Shin Ji-Yai, has been held twice previously to complement the HSBC Champions, a $7 million tournament for men under way in Shanghai.
"We are firm in our commitment to women's golf. The tournament will not change," HSBC Singapore Chief Executive Guy Harvey-Samuel said in Shanghai.
The next Women's Champions will be held Feb. 25-28.
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(END) Dow Jones Newswires
November 07, 2009 02:42 ET (07:42 GMT)
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