SKorea’s Shin Ji-Yai is pictured during HSBC Women’s Champions golf tournament in Singapore, in 2008. HSBC announced it was renewing its sponsorship of the Women’s Champions tournament for the next three years, but prize money would be slashed.

Global banking giant HSBC said it was renewing its sponsorship of the Women’s Champions tournament for the next three years, but prize money would be slashed.

The tournament regularly attracts the world’s top 10 players but as the global downturn bites, the prize purse will be reduced in 2010 by 700,000 dollars to 1.3 million dollars.

It will remain in Singapore until at least 2012.

The USLPGA Tour event, won last year by South Korea’s Shin Ji-Yai, has been held twice previously to complement the HSBC Champions, a seven million dollar tournament for men currently under way in Shanghai.

“We are firm in our commitment to women’s golf. The tournament will not change,” HSBC Singapore chief executive Guy Harvey-Samuel said in Shanghai on Saturday.

“Women’s golf is a wonderful product and the golfers are superb ambassadors for their sport and we are happy to show our support at a time when they need sponsors like us to stand alongside them.”

The next Women’s Champions will be held from February 25-28.

As well as golf, HSBC also puts money into rugby and tennis events, but like many financial institutions it has been hit hard by the global economic downturn.

US golfer Tiger Woods looks on during the Pro-Am event of the HSBC Champions golf tournament in Shanghai. Woods is once again the man to beat this week, and with the world number one having won 16 of the 30 World Golf Championship events he has entered, no one is betting against him.

Tiger Woods is once again the man to beat this week, and with the world number one having won 16 of the 30 World Golf Championship events he has entered, no one is betting against him.

The American is in a league of his own when it comes to performing at elite tournaments, and he said Wednesday he would do what he always does when he tees off at the seven million dollar HSBC Champions.

“Simple strategy: finish lower than anybody else,” said Woods, who won his first World Golf Championship event at the NEC Invitational in 1999 and his last in August at the Bridgestone Invitational.

“I’ve enjoyed playing against such great fields. For some reason, I’ve had a lot of success.”

That’s an understatement from a player who has notched up 95 international career victories, including 14 Majors.

Woods has played Shanghai twice before, in 2005 and 2006, and finished second both times, to England’s David Howell and then South Korea’s Yang Yong-Eun.

His plan is to improve on that this week.

“I’ve come close a couple of times and hopefully this week I can put my game together and improve on those finishes,” said Woods, who plays his opening two rounds with Thailand’s Thongchai Jaidee and England’s Ross Fisher.

“It is a big event. Having this now become a World Golf Championship event, I think everyone is excited about what this tournament means in the scope of things, not just here in China but the whole of Asia.”

The elite World Golf Championships bring together tournament winners and the best players from the International Federation of PGA Tours. There are only four events each year.

While the 78-man field includes 15 of the world’s top 20, Phil Mickelson is seen as Woods’ main rival, with the two competing together in Asia for the first time.

US golfers Phil Mickelson (Left) and Tiger Woods along with defending champion Sergio Garcia (right) of Spain prepare to tee-off before the Shanghai city skyline on November 3. Woods is once again the man to beat this week, and with the world number one having won 16 of the 30 World Golf Championship events he has entered, no one is betting against him.

Mickelson said he hoped they were both in contention on Sunday. (more…)

US team member Tiger Woods and his wife Elin Nordegren (right) wait for the rest of the team to finish play in the Presidents Cup competition at Harding Park Golf course in San Francisco, October 11. Woods paid tribute to wife Elin on Tuesday for putting up with him being away from home as he prepares to win a tournament that has so far eluded him, the HSBC Champions.

World number one Tiger Woods paid tribute to wife Elin on Tuesday for putting up with him being away from home as he prepares to win a tournament that has so far eluded him, the HSBC Champions.

Woods said it was getting harder and harder to leave his Florida base now that he has children, but that it was his obligation to be a global golfer and raise the profile of the sport.

“That’s the thing most athletes have to juggle, being there for your family while doing what you do on the golf course,” he said, adding that it was all about striking a balance.

“It’s certainly a challenge but I’ve been very lucky to have such a fantastic wife who has been just tremendous with our kids.

“It’s been a lot of fun being around the kids and being part of them growing up. Yes, it is getting harder and harder to leave home and I’m sure it’s only going to get worse as they grow older,” he added.

“It’s part of what we do as athletes unfortunately. We travel. But as a golfer you have to travel all around the world. It’s part of the job.”

Woods has two young children, Sam and Charlie.

Despite the time away, he made clear that as world number one he had an obligation to help raise awareness of golf in countries like China, where the sport is starting to take off.

“It’s part of our responsibility as players,” he said.

“I have played on every continent except Antartica, and they don’t have a golf course there yet.

“But the whole idea is to play around the world. That’s our responsibility as players, as world class players.”

He pointed to China as a place where future growth of golf was unlimited, with the country going from no golf courses 25 years ago to hundreds today. (more…)

Greg Owen of England and caddie Mick Middlemo walk the 18th hole fairway during the second round of the Frys.com Open at Grayhawk Golf Club in Scottsdale, Arizona. Owen fired a six-under 64 to grab a share of the lead after the second round

England’s Greg Owen fired a six-under 64 to grab a share of the lead after the second round of the five million dollar PGA Frys.com Open.

Owen moved to an 11-under 129 total and is tied with Rickie Fowler who also shot 64 at the Grayhawk Golf Club.

American Justin Leonard is in sole possession of third at minus-10 after another 64.

With the season winding down, many of the players are trying to do well here in order to finish in the top 125 and keep their PGA Tour card.

Owen came out quickly posting birdies on five of his first six holes. He made a pair of 15-foot birdies putts on No. 2 ad 3 and then back-to-back birdies on five and six.

Owen birdied No. 14, then holed a sand-wedge from 104 yards to post an eagle at 15. He parred his final three holes for his first share of a second-round lead on the PGA Tour.

“I’ve actually played really, really well,” said Owen. “Winning on the PGA Tour would mean a lot. I had my chance at Bay Hill, which, you know.”

Fowler is seeking to become the first player since Ryan Moore to qualify for the tour based on earnings in sponsor’s exemptions and without going to qualifying School.

Moore shot five-under 65 and is tied for fourth place with first-round leader Nick O’Hern. Australia’s O’Hern shot 68 in the second round to reach nine-under 131.

“My expectations were basically just to go out and have two fun weeks and play as well as I could,” said Fowler. “There’s always that goal of winning. There’s no reason to tee it up in a tournament if I don’t think I can win.

“Last week I put together some solid rounds and put myself in contention. This week, feel like I’m in a great spot going into the weekend.” (more…)