Barclays pulls Scottish Open sponsorship
The European Tour is looking for a new sponsor for the Scottish Open golf tournament after Barclays decided not to renew its deal.
The bank has sponsored the July tournament for the last 10 years but it has declined to renew its contract ahead of the competition celebrating its 30th anniversary next year.
Barclays Capital managing director Tim Peat said: "We made our decision reluctantly based on current market factors."
Despite the setback organisers still remain confident that they can attract a replacement.
European Tour chief executive George O'Grady said: "We thank Barclays for their vision and leadership.
"We respect and understand that their decision was based on market factors following a hugely successful partnership that has lasted almost a decade.
"The combination of a world-class title, prime date in the week immediately before the Open Championship and stunning location in Scotland - the Home of Golf - make this a particularly attractive proposition and we look forward to securing the future of the Scottish Open with a new sponsor."