Tim Peat of Barclays Capital said that “market factors” had led to the decision to end the deal, but added that the bank would maintain “a significant presence in professional golf” with continuing sponsorship deals for golf events in the United States and Singapore. Barclays has sponsored the Scottish Open since 2002.
“We thank Barclays for their vision and leadership,” said European Tour chief executive George O’Grady. “We respect and understand that their decision was based on market factors following a hugely successful partnership that has lasted almost a decade.”
O’Grady added: “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.”
Whilst golf may be the loser, the good news for football is that there is no suggestion that this decision has any bearing on Barclays involvement in the Premier League.