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Credit Crunch Hits Open

The credit crunch has finally caught up with British golf after it was announced that the English Open golf championship has been postponed for at least two years after developers at the host Cornish course ran into financial difficulties.

After a 14 year absence the event was set to return to the European Tour in 2009 at St Mellion near Plymouth in Devon. The club’s owners have blamed the credit crunch for their impact on cash flows and ultimately the inevitable delay.

An estimated 40,000 spectators were expected, with millions watching it on television. However with the new two year target Crown Golf have backed their commitment to The European Tour to host The English Open from 2011.

One Response to “Credit Crunch Hits Open”

  1. Andy Brown of Says:

    Another one bites the dust! The tournament was nicely placed to be held the week after the US PGA Championship but this means that it is off the calendar now. Quite sad considering that the event was making a comeback after 2002 when it was played at the Forest of Arden where Darren Clarke. When it was announced as being a part of the European Tour schedule, there was a guarantee of it taking place for at least five years in a row but obviously that isn’t happening anymore.

    The problem that they face is quite an interesting one. One that has been associated with the rise of golf in so many developing countries around the world where the development of a golf course is linked with homes and cottages built around the course. No one factored in the effect of these houses not finding in any takers because when the idea was first floated there was nothing more desirable than a home by the side of a golf course. Lets hope we can get out of this economic situation at the earliest and things get back to being the way they used to be before.



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