UNITED ARAB EMIRATES DUBAI, United Arab Emirates The European Tour is no longer known by that name after 50 years.
When it changes its name in 2022, the DP World Tour will have more than $200 million in prizes.
The title change, according to European Tour CEO Keith Pelley, better reflects the tour’s global nature.
Only 23 of the 47 events scheduled for 2022 will take place on European soil.
“It’s a misnomer in many ways,” Pelley said of the European Tour’s current moniker. “We are unquestionably on a world tour.”
In addition to honoring the tour’s creators, Pelley said the tour’s global reach is a source of pride.
Pelley predicted that the season’s prize money will be “north of $200 million,” compared to $104 million in 2021 and $70 million in 2020.
The arrangement is a big boost to the European Tour’s finances, which were severely harmed by the coronavirus outbreak, which forced the tour to shut down for three months starting in March 2020.
After one of the potential new leagues offered to take over Europe, the European Tour formed a strategic collaboration with the PGA Tour about a year ago. The Scottish Open has joined the PGA Tour, and European members can now compete in two PGA Tour events. In the fall, more collaboration is feasible.
Meanwhile, Greg Norman is the CEO of LIV Golf Investments, a new organization funded by Saudi Arabia’s state investment fund that is investing $200 million in 10 new Asian Tour tournaments. Those events, as well as where they will be held, have yet to be disclosed.
The Saudi International is not included in the new tournaments because it was dropped from the European Tour’s calendar three years ago and has subsequently struck an agreement with the Asian Tour.
Rory McIlroy, a four-time major champion, said the partnership was “excellent news for global golf” in a video message.
It gave “stability” and “excitement” to golfers on the tour, according to Tommy Fleetwood, the 2017 Race to Dubai victor.
The season-ending tournament on the European Tour, known as “The Race to Dubai,” has been sponsored by DP World, a Dubai-based logistics company, since 2009. Previously, it was known as the “Order of Merit.”
The European Tour was started in 1972, although in recent years, events have become increasingly conducted outside of Europe, with many of the major currently taking place in the Middle East.