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Indian Tournament Under Threat
The future of the Avantha Masters is under serious threat after the tournament’s major sponsor pulled out of the event on Thursday.
The Avantha Masters is sanctioned by the European Tour and is the most prestigious tournament on the Indian golfing calendar.
However, the recent poor performance of the Indian economy over the past few months has been cause for concern, and the tournament’s title sponsor has subsequently opted to pull itself from the event.
A statement from the Avantha Group on Thursday read: "The Avantha Group has concluded that in order to attract top talent, a substantial prize money increase will be required.
"Given the current economic condition, this is not the appropriate moment to do so and the group has therefore not renewed its contract with the European Tour."
India are currently in the midst of their worst economic crisis in decades and the local currency, the rupee, has depreciated about 22 per cent against the dollar this year.
Keith Water, a European Tour official, told the Times of India that the March slot which is reserved for the Masters has not yet been allotted, but admitted it was unlikely to be held in the South Asian country.
"In the current scenario, it's a great challenge to support an event of this nature in India, especially when a sponsor is not sure how much revenue it would generate," said Waters.
Going forward it could be a difficult time for Indian golf fans.