Abu Dhabi Sports Council (ADSC) and HSBC have a greed a five-year extension to the bank’s title sponsorship of the the annual, award-winning Abu Dhabi HSBC Golf Championship.

The season-opening European Tour event has a prize purse of $2.7 million – the richest on the Tour’s ‘Desert Swing’ – and will enjoy HSBC’s backing until 2020.

The deal was announced with a handshake between His Excellency Aref Al Awani, ADSC’s General Secretary, and Giles Morgan, HSBC Global Head of Sponsorship and Events, at the HSBC Golf Business Forum in Shanghai on Tuesday.

HE Al Awani said: “Today is another milestone for the Abu Dhabi HSBC Golf Championship. 

“This agreement is a clear demonstration of HSBC’s commitment to a long-standing partnership and its belief in our Championship.

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“With our title sponsor’s continued support and activation expertise, we will build upon the momentum the partnership has already delivered in attracting a dream field of players and an ever-increasing spectator turnout. 

“From bringing in sporting legends, to mounting interactive sporting entertainment zones for all the family and helping to attract spectator crowds running into hundreds of thousands since our affiliation began, our partner has demonstrated its commitment to sport and the local community.”

Al Awani added that as the four-day Championship enters its second decade, golfing fans and spectators can continue to expect benchmark offerings when the 2016 Championship tees off at the iconic Abu Dhabi Golf Club on January 21.

Giles Morgan, Global Head of Sponsorship and Events at HSBC said: “Since the start of our partnership in 2011 the Abu Dhabi HSBC Golf Championship has gained the reputation as the jewel in the crown of Middle Eastern golf. 

“We believe today’s announcement represents a major statement of our intent and continued commitment to grow the game of golf in an important emerging market for our business.”