Huge financial blow hits snooker 06/08/2008 |
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Snooker is facing a financial crisis after the sport's two biggest sponsors announced they are terminating their contracts, costing the game £1.5m.
World Championship sponsors 888.com are quitting their five-year deal after three years and Saga Insurance will no longer back the Wembley Masters.
The World Professional Billiards and Snooker Association said the companies blamed the "current economic climate".
The WPBSA said it was "optimistic" it would find new sponsors for the events.
The World Championship and Masters were backed by tobacco companies from the 1970s until 2005, when the government introduced a tobacco sponsorship ban.
The Grand Prix and UK Championship are currently sponsored by Royal London Watches and Maplin Electronics respectively, although both deals are in their final year.
There are two fully funded and sponsored ranking events in China but the first major event of the new season, the Northern Ireland Trophy, gets under way later this month without a big-money backer.
(Source: BBC)
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