Asian Tour cancels Bangkok tourney with no sponsor

[May 14, 2009]  SINGAPORE (AP) -- Asia's top golf tour canceled a December tournament in Bangkok after Volvo pulled its sponsorship, an Asian Tour spokesman said Thursday.

The Swedish carmaker declined to extend its sponsorship of the Volvo Masters of Asia for 2009, Chief Executive Per Ericsson said.

"The current economic climate, the unstable situation surrounding Asian golf at present and recent unrest in Thailand all played a part," Ericsson said in a statement on the Asian Tour's Web site.

The worst global recession since World War II has undermined corporate sponsorship of sports events, including golf. Asian Tour events in India and Thailand were canceled earlier this year due to a lack of sponsors.

Volvo sponsors the World Match Play Championship, the China Open and the Masters Amateur.

[Associated Press]

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