MADRID -- The Madrid Open has been removed from the European Tour's calendar because of a lack of funding.
Tournament spokeswoman Maria Acacia Lopez-Bachiller tells The Associated Press that no sponsors for the Sept. 20-23 event were found to replace Bankia, the bailed-out Spanish bank that previously sponsored the tournament.
"Organizers are hoping to find new sponsorship to bring the tournament back next year," Acacia Lopez-Bachiller said. "It's a shame, but the situation in Spain has left it this way."
Acacia Lopez-Bachiller adds "at the moment the Andalucia Masters is on." That European Tour event, with a prize fund of $3.7 million, is scheduled for Oct. 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.