Troubled HK event seeks bailout
October 1, 2009, Thursday
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HONG Kong's highest-profile women's tennis tournament has asked the region's government for a US$700,000 bailout after its main sponsor withdrew backing for the early season exhibition event.
Organizers are hoping the Hong Kong government would dole out HK$5.5 million (US$709,700) for the Women's Champions Challenge through a newly established Mega Events Fund. "It's unfortunate but like many other companies, the JB Group has also been caught up in the financial tsunami," tournament director Terry Catton. Although not part of the WTA Tour, high-ranking players such as Maria Sharapova, Serena Williams and Kim Clijsters have all participated in the Australian Open warm-up event. Catton added that the tournament would still go ahead "whatever happens".
Organizers are hoping the Hong Kong government would dole out HK$5.5 million (US$709,700) for the Women's Champions Challenge through a newly established Mega Events Fund. "It's unfortunate but like many other companies, the JB Group has also been caught up in the financial tsunami," tournament director Terry Catton. Although not part of the WTA Tour, high-ranking players such as Maria Sharapova, Serena Williams and Kim Clijsters have all participated in the Australian Open warm-up event. Catton added that the tournament would still go ahead "whatever happens".
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