Volvo Masters 2008 Prize Money
Volvo Masters announced that it will increase the price money with a quarter-of-a-million Euros to a record €4,250,000. The champion’s share goes up to an unprecedented €708,000 making the winner the first million-dollar man in the long and colourful history of the European Tour’s longest running sponsorship.
Last year’s champion, Englishman Justin Rose clinched the European Order of Merit with what he described as, “The biggest victory of my career to date,” banking €666,660 (approx. US$967,500) for his epic sudden-death play-off victory at Valderrama and said of the million-dollars on offer should he become the first man to successfully defend his Volvo Masters crown,
“There is something magical about the million-dollar mark, but more importantly, the Volvo Masters is a huge championship to win and I’d love to make history by successfully defending my crown.”
Klas Magnusson, Acting Head Volvo Event Management (Golf) commented, “Volvo in golf has always been about a couple founding principles, namely that the prize money is entirely performance related and that Volvo-sponsored golf tournaments represent a unique fusion of quality, venue and event production, a world-class ambience, true sportsmanship and intense competition.”
But Magnusson, who took over on an interim basis following the retirement of Mel Pyatt, who very successfully steered Volvo through two decade in golf, which saw Volvo become the biggest single sponsor of men’s professional golf in both Europe and Asia did admit that the Swedish brand’s golf portfolio was currently, ‘Under review.’
He explained, “Clearly, the Race to Dubai inaugurated from 2009 onwards changes the golf sponsorship landscape not only for Volvo but also, I believe for other blue-chip sponsors and Volvo Event Management is quite properly currently reviewing its golfing operations in light of this development,” adding, “We are counting nothing in and nothing out and will be announcing the results of our deliberations later this year.”
Commenting on the increased prize money for the 2008 Volvo Masters, the 15th to be staged at Valderrama, George O’Grady, Chief Executive of the European Tour said, "This increase in prize money for the 21st Volvo Masters is a huge tribute to Volvo's tradition and values and also reflects the commitment of so many people, from Volvo to the Junta de Andalucia and Valderrama."
The 21st Volvo Masters will take place at Club de Golf Valderrama from 30th October - 2nd November 2008.