Dubai -The European Tour on Sunday announced that their season-ending championship will remain in Dubai and the Jumeirah Golf Estates for the next three years.
European Tour Chief Executive George O'Grady also said that the prize money of the championship will be increased to eight million dollars for 2012.
However, details of the Bonus Pool of the Race to Dubai, the year-long Money List on the European Tour, will be released at a later date, with O'Grady saying that the Tour is looking for a couple of partners for the Race to Dubai.
O'Grady said: "We are delighted to be announcing the start of a new phase for The Race to Dubai and, specifically, the newly re-titled DP World Tour Championship, Dubai, at Jumeirah Golf Estates.
"In DP World and Nakheel we have two incredibly strong partners who are fully dedicated to the future success of The Race to Dubai and the tournament. We thank them for their continued backing of our season's finale at Jumeirah Golf Estates and we look forward to further strengthening our association with DP World and Nakheel when our leading world-ranked players return to compete in Dubai over the next three years."
DP World, the Dubai-based world's third largest marine terminal operators, will continue to sponsor the championship, and will now be known as the 'DP World Tour Championship, Dubai'.
Mohammed Sharaf, CEO of DP World, said: "With the global golfing fraternity's attention focused on the Jumeirah Golf Estates for four full days, the DP World Tour Championship, Dubai and The Race to Dubai are significant events for Dubai, reinforcing its position as an international sport and golfing destination. That is good for the UAE, Dubai; good for Dubai, and good for golf."
The next three editions of the tournament will return to Jumeirah Golf Estates, host venue since the inaugural Race to Dubai in 2009. The increased prize fund would mean the winner's cheque would become $1.33 million instead of the present $1.25m.
From 2012, the field will once again comprise the leading 60 players who qualify through all officially-sanctioned tournaments on the European Tour's schedule.