Banking group UBS has announced that this year’s Hong Kong Open in November will be its last as the official sponsor.

The Hong Kong Open, which is the final qualifier on the Race To Dubai, has been sponsored by the Swiss banking group since 2004.

George O’Grady, chief executive of the European Tour, said: “We thank UBS for their five-year sponsorship of the Hong Kong Open. We also acknowledge their early notification regarding the future as we can now work with PMG, the promoters, in securing a new sponsor for 2010 and beyond.”

The bank had to apply for fresh funding from the Singapore government two years ago after incurring huge losses.

The Hong Kong Open will be played at Fanling on November 12-15 with prize money of £1.8 million (€1.96m). After the event, the top 60 players on the Race To Dubai money list will qualify for the Dubai World Championship the week after.

Last year’s Hong Kong Open was won by Lin Wen-Tan who took the €327,384 prize money after defeating Rory McIlroy and Francesco Molinari in a play-off. Colin Montgomerie won the event in 2005 and Fanling has always attracted some of the biggest names in the game.

Where next?

Race to Dubai International Schedule

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