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European Tour's Madrid Open canceled over funding

Tuesday - 7/10/2012, 10:06am  ET

MADRID (AP) - The Madrid Open has been removed from the European Tour's calendar due to a lack of funding.

Tournament spokeswoman Maria Acacia Lopez-Bachiller tells The Associated Press that no sponsors for the Sept. 20-23 event were found to replace Bankia, the bailed-out Spanish bank that previously sponsored the tournament.

Acacia Lopez-Bachiller says "organizers are hoping to find new sponsorship to bring the tournament back next year. It's a shame, but the situation in Spain has left it this way."

Acacia Lopez-Bachiller adds "at the moment the Andalucia Masters is on." That European Tour event, with a prize fund of $3.7 million, is scheduled for Oct. 18-21 at a yet-to-be-determined location.

The Castellon Masters is another Spanish tournament that has been removed from this year's schedule.


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)