European Tour agrees new Dubai deal
The European Tour has agreed a new three-year deal with the organisers of the Dubai World Championship, chief executive George O'Grady said.
O'Grady told a news conference that prize money for the tour's season-ending event would also rise from $7.5 million to $8 million.
There has been media speculation about the future of the event that was launched in 2009 in a blaze of publicity but the tour chief said he was delighted to announce it would remain on the schedule.
"We are going to continue the tournament for three more years and the Race to Dubai (money list) for three more years," said O'Grady.
"The title will change slightly to DP World Tour Championship, Dubai. Prize money for the first year will be $8 million and it is an outstanding three-year commitment from (sponsors) DP World."
This year's event features a tournament prize fund of $7.5 million plus an additional $7.5 million bonus pool to be distributed among the leading 15 players in the final Race to Dubai standings.
O'Grady made the announcement about the new agreement just as overnight leader Alvaro Quiros of Spain was starting his final round.