The Madrid Masters will be postponed until 2013 as a result of the difficult economic situation, according to a statement from the Spanish golf federation (RFEG) on Tuesday.
Bankia, which sponsors the European Tour event, won last year by England’s Lee Slattery, required a state rescue worth €23.5 billion in May. The rescue prompted Spain to request European aid for its banks and a Spanish court this week opened a fraud case against former Bankia executives.
The tournament had been due to take place from September 20th -23rd.
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