European Tour rebranded, doubling total prize fund to over $200 million

DUBAI, United Arab Emirates – The European Tour is being rebranded as the DP World Tour starting next year.

It marks the end of an era for the European Tour, which was founded in 1972.

DP World, a Dubai-based logistics company, has sponsored the season-ending event on the European Tour which has been held in Dubai since 2009.

European Tour chief executive Keith Pelley said the deal with DP World will nearly double the total prize money on the tour, to more than $200 million from 2022.

Pelley said there will be a minimum prize fund of $2 million for each tournament, adding there will be 47 events held in 27 different countries (click here to view full schedule). It will also co-sanction three tournaments with the PGA Tour next year, the Genesis Scottish Open, as well as the Barbasol Championship and the Barracuda Championship in the U.S.