Parallel Media Group signs global whisky brand Ballantine’s as Title Sponsor for new European Tour-sanctioned event in Korea
PMG has signed a three year agreement with Ballantine’s to sponsor the "Ballantine’s Championship", a new tournament on the European Tour’s International Schedule taking place in Korea. The Ballantine’s Championship commences 13 March 2008 and carries a prize money purse of €2 million
“We are delighted to welcome Ballantine’s into our family of global sponsors and congratulate them, in addition to The Korea PGA and Parallel Media Group, for their foresight, support and vision.” George O’Grady, Executive Director of The European Tour
PMG plc
today announces
a new tournament
on the European
Tour International Schedule and
signs Ballantine’s
to become
Title Sponsor
of the
“Ballantine’s Championship”
for an initial
three year
period
commencing
in 2008.
As the promoter, PMG will receive a fee against tournament staging costs and have the right to source secondary sponsors for the event.
The agreement will see Ballantine’s become the Title Sponsor of the richest professional golf tournament to be staged in Korea. The venue of the tournament is the Pinx Club, located on the popular resort island of Jeju, which attracts 4 million visitors annually.
The European Tour-sanctioned event will be staged between 13 and 16 March 2008 and will carry a prize money purse of €2 million. The event will be televised by SBS in Korea and distributed internationally by European Tour Productions.
PMG has had a 20 year working relationship with the European Tour and was responsible for launching the first professional golf tournament in China in 1995, the World Cup of Golf. PMG current European Tour-promoted events include the UBS Hong Kong Open, the TCL Classic, the Kazakhstan Open, and the Omega Mission Hills World Cup of Golf (of which PMG is the Commercial Partner with Mission Hills).
Commenting today on the agreement, David Ciclitira, Chairman of PMG, stated “This agreement with Ballantine’s and the European Tour is a major development for Korean golf and for our activities in the region. It further establishes PMG as one of the top specialist companies in Asian sport and will provide significant further revenue streams for the Company in the year ending 31 December 2008 and beyond”
Christian Porta, Chairman and CEO of Chivas Brothers which owns Ballantine’s, said: “We are delighted to have signed this agreement with Parallel Media Group. The European Tour brings a global stage to this tournament, for Ballantine’s and for Korean golf. It is our privilege to help bring what will be Asia’s 3rd biggest golf tournament to Korea which is already world famous for its golfers and its love of golf.”
George O’Grady, Executive Director of The European Tour said, “We are delighted to welcome Ballantine’s into our family of global sponsors and congratulate them, in addition to The Korea PGA and Parallel Media Group, for their foresight, support and vision.”
