foxsports
The future of the Austrian Open has been safeguarded after organizers announced a new sponsor that will bring in $3.5 million to the tournament over the next three years.
Lyoness, a global cashback firm, will sponsor the event at a time when the European Tour is struggling to find backers. The Czech Open - scheduled for August - was canceled last week, the third tour event to be scrapped because of financial difficulties.
Keith Waters, director of international policy of the European Tour, says ''the European market is very challenging for us ... so this announcement is particularly gratifying.''
Under Lyoness, the Austrian tournament staged in Atzenbrugg the week after the British Open will have a prize fund of ?1 million.
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