Add another victory for new LPGA commissioner Mike Whan. Hana Financial Group has signed a three-year contract to maintain its title sponsorship of the LPGA event in South Korea. The tournament had previously been marked as TBD for date, venue, purse and sponsor.
SportsBusiness Journal’s Jon Show reports:
The LPGA Hana Bank Championship will take place Oct. 29-31 at a course near Seoul that will be announced at a later date. Terms were not disclosed, but purse commitments put the annual expenditure at $2 million.
Prize money for the 54-hole event will be $1.8 million, up $100,000 from last year when it was held in Incheon, South Korea. Coverage of the tournament will not air in the U.S.
It’s a shame we won’t get coverage of it in the States. Is Korea out of network for the Golf Channel or something? I assume the other four events in Asia won’t be aired either. So much for that “groundbreaking” TV rights deal. I guess something is better than nothing, right?
Well, good news is that since disgraced former commissioner Carolyn Bivens stepped down, sponsors have been returning and contracts are being signed. Now the announcement of another tournament on US soil would make many of us absolutely giddy. Perhaps that’s just getting greedy, though.
[Photo by Chung Sung-Jun/Getty Images AsiaPac]