KUALA LUMPUR, Malaysia (AP) -- The Asian Tour said Monday it has signed a five-year agreement with the National Golf Association of the Philippines to help stage the Philippine Open and turn it into one of the region's flagship tournaments.
Under the tie-up, the association will entrust all commercial and media rights for the Philippine Open, which is Asia's oldest national golf championship, to the Asian Tour until 2010.
Louis Martin, chief executive of the Asian Tour, said the partnership might enable the event to be shown on live television broadcasts across Asia and help its prize money eventually increase to more than $ 1 million (euro830,000).
``The Asian Tour believes the Philippine Open should take its place as one of Asia's most prestigious championships, and we will work toward this shared goal of raising its profile and stature over the coming years,'' Martin said in a statement.
He said the Asian Tour plans to aggressively promote the Philippine Open, and he urged Filipino corporate sponsors to help make the event ``a sporting extravaganza that the whole of the Philippines community can be proud of.''
This year's Philippine Open, which will mark its 90th edition, is scheduled for May 25-28 with a prize fund of about $ 200,000 (euro166,000). The venue will be named later. Last year's winner was Adam Le Vesconte of Australia.
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