Asian Tour's Saudi-backed International Series to host event in London

The Asian Tour is set to stage an event in London as part of its 10-event International Series in its 2022-23 schedule, the continental governing body said on Tuesday.

The breakaway competition sanctioned by the Asian Tour has a partnership with LIV Golf Investments, a company backed by Saudi Arabia's Public Investment Fund (PIF). The prize money on offer is between $1.5 million to $2 million per event.

The Asian Tour said LIV Golf Investments has also increased its investment from $200 million to $300 million as it looks to take on established tours such as the PGA and DP World Tours. Australia's ex-world number one Greg Norman is its CEO.

"We are on the threshold of a new era for Asian golf," said Cho Minn Thant, Asian Tour commissioner and CEO.

"The International Series is a new upper-tier of elite events, the likes of which the region has not seen before, that will mark the start of a phenomenal period of growth for the Asian Tour.

"It also signifies the beginning of our relationship with our new strategic partner LIV Golf Investments and its CEO Greg Norman."

The Asian Tour said the series begins in Thailand in March before moving to Britain, Korea, Vietnam, the Middle East, China, Singapore and Hong Kong.

The London event will be held at Centurion Club from June 9-12 with a $2 million purse.

The announcement was made two days before the Saudi International from Feb. 3-6, which has a prize fund of $5 million and has attracted players such as Phil Mickelson, twice champion Dustin Johnson and Bryson DeChambeau.

They were granted waivers to miss the PGA Tour's AT&T Pebble Beach Pro-Am, which is taking place over the same weekend.

(Reporting by Rohith Nair in Bengaluru; Editing by Christian Radnedge)