Madrid - The Madrid Open has been removed from the European Tour's calendar due to a lack of funding.
Tournament spokesperson Maria Acacia Lopez-Bachiller told The Associated Press that no sponsors for the September 20-23 event were found to replace Bankia, the bailed-out Spanish bank that sponsored the tournament previously.
Acacia Lopez-Bachiller said "organisers are hoping to find new sponsorship to bring the tournament back next year. It's a shame, but the situation in Spain has left it this way."
Acacia Lopez-Bachiller added "at the moment the Andalucia Masters is on." That European Tour event, with a prize fund of €3m, is scheduled for October 18-21 at a yet-to-be-determined location.
The Castellon Masters is another Spanish tournament that has been removed from this year's schedule.