Taipei, May 27 (CNA) Taiwan is in position to organize its first ever United States LPGA Tour event hosted by current world No. 4 Yani Tseng in October 2011, a foundation behind the initiative said Thursday.
The Ho Kuo-hua Golf Foundation, associated with the Pei Tou Kuo Hua Golf and Country Club, told reporters that it is in the process of securing a three-year contract with the LPGA Tour for an invitational tournament in Taiwan.
"If all goes well, the first invitational tournament is expected to take place in October 2011, right before the Malaysia event, " said Jennifer Lee, Executive Director of the foundation's LPGA Preparatory Office.
The tournament's total purse will likely range between US$1.2 million and US$1.5 million, consistent with other U.S. LPGA events held in Asia, Ho said. The total budget for the tournament, the name of which has not yet been decided, is around US$5 million, said Emily Ho, president of the foundation.
"It will definitely include Yani Tseng's name in it to increase the appeal for local fans, " she said.
"Mexico went from a country with zero LPGA tournaments to three tournaments because of former world No. 1 Lorena Ochoa. We are optimistic that Yani Tseng will have the same impact," Ho said.
The U.S. LPGA Tour usually makes an Asia swing at the end of the year and will make stops in Malaysia, South Korea and Japan in consecutive weeks in late October and early November 2010.
One of the most pressing issues for the foundation is sponsorship, Lee said, adding that while several foreign corporations have shown great interest in sponsoring the event, sponsorship from local businesses has been lacking because most Taiwanese businesses do not recognize the sponsorship of sporting events as a part of their branding and marketing plans.
The LPGA Tour has been dropping tournaments in the last two years because of the global financial crisis leading to a lack of sponsors. As the global economy is recovering, however, more countries and agencies have begun to arrange LPGA events again, Lee said. (By Chris Wang) ENDITEM/J