The owners of the Standard Life Loch Lomond golf tournament have announced that a bonus payment of $1 million will be made to the player who can capture both the Loch Lomond title and the Open Championship.
The bonus is additional to the top prizes of £141,660 and £300,000 respectively for the winner of both events. The Standard Life Loch Lomond places from July 8-11, the week preceding the Open Championship. The offer, made possible following ratification from the Royal and Ancient and the European Tour, is being underwritten by Standard Life, the Loch Lomond tournament’s new sponsor.
Lyle Andersen, president of the Loch Lomond Golf Club and partner of Loch Lomond World Invitational Ltd, the joint venture company owned by the Club and Carnegie Sports International, commented: “We have a wonderful opportunity to focus the world’s attention on Championship golf in Great Britain for a two week long period. All eyes in he world of golf will turn to Great Britain in July with the expectation of seeing the best players compete on the best courses, in the homeland of golf. Standard Life has agreed to underwrite this $1,000,000 bonus as a way to emphasise our commitment to attract the world’s best players to participate at Loch Lomond. Last Year we hosted one of the best fields ever assembled for a Tour event in Europe outside an Open Championship. We expect this year’s field to be even stronger.
Sam Torrance added: “The bonus of $1 million from Standard Life is a great incentive for those golfers participating in both events. I, for one, very much look forward to returning to Loch Lomond for the Standard Life event.”
Tom King, Director of Corporate Affairs, Standard life, stated: “Standard life is the largest mutual life assurance company in Europe with assets under management in excess of £56bn. To put this figure in some perspective, we manage assets which exceed the market value of British Airways, Tesco, Marks and Spencer, Boots and Cadbury Schweppes combined. And yet there are large sections of the public who do not realise how big and successful we are. We believe, whether or not they take advice that people will increasingly rely on their impressions of a company’s size and reputation when making a choice for their financial needs. We want them to appreciate that they can have confidence in Standard Life’s financial strength and reputation. Loch Lomond is one of the world’s most prestigious venues with an outstanding reputation for quality and I believe that this sponsorship, and the substantial bonus, will allow us to illustrate these strengths more readily.”
Earlier this week Standard Life announced that it is to be the new title sponsor of the Loch Lomond golf event. The multi-million pound backing is for three years with an option to extend the agreement for an additional period.
The Standard Life Loch Lomond, jointly owned by Loch Lomond Golf Club and Carnegie Sports International, was founded in 1996. Danish rookie Thomas Björn won the inaugural event and last year American Tom Lehman, the then current Open Champion, was victorious.