Barclays have ended their ten-year sponsorship of the Scottish Open, one of the European Tour's premier events. The tournament that occupies an enviable spot in the golfing calendar the week before the Open Championship, suffered a weather-beaten start at its new home of Castle Stuart this year.
As principal sponsors, it is widely accepted that Barclays played an integral role in the event's relocation to its new links venue.
Now, after just a single event over the acclaimed contemporary course at Castle Stuart, the banking group have decided not to renew their association with the tournament.
Tim Peat, managing director of Barclays Capital explained that the decision to end the partnership was down to external "market factors".
"Barclays has been proud to be the title sponsor of the Scottish Open for the last decade," said Peat. "We made our decision reluctantly based on current market factors.
"I would like to thank The European Tour for its professional support and event management throughout our period sponsoring the Scottish Open making it a success for the players, the general public and our clients.
European Tour chief executive, George O'Grady, thanked the banking group for their long partnership with the event, and
"We thank Barclays for their vision and leadership," said O'Grady. "We respect and understand that their decision was based on market factors following a hugely successful partnership that has lasted almost a decade.
"The combination of a world-class title, prime date in the week immediately before The Open Championship and stunning location in Scotland - the Home of Golf - make this a particularly attractive proposition and we look forward to securing the future of the Scottish Open with a new sponsor.
"I would like to thank Barclays for its support of European golf and am delighted it will continue to sponsor The Barclays Singapore Open, a European and Asian Tour co-sanctioned event."
Though Barclays have called an end to their relationship with the Scottish Open, they will continue to sponsor world No.6 Phil Mickelson, PGA Tour's first round of the FedEx Cup Playoffs, The Barclays, and also European Tour event The Barclays Singapore Open.