OAKVILLE, Ont. -- The Canadian Women's Open golf tournament has secured a new sponsor.
Golf Canada, the LPGA Tour and the Canadian Pacific railway company announced a three-year sponsorship deal on Wednesday.
The tournament will be renamed the Canadian Pacific Women's Open. The 2014 event will be held Aug. 21-24 at the London Hunt and Country Club in London, Ont., and the prize purse will be increased to US$2.25 million.
The Canadian National Railway Company had sponsored the event over last eight years. New Zealand's Lydia Ko won the 2013 tournament, which had a $2-million purse.
"On behalf of Golf Canada, the LPGA Tour and Canadian golf fans from coast to coast, I want to thank Canadian Pacific, and especially CEO Hunter Harrison, for aligning their respected brand with our national women's open golf championship," Golf Canada CEO Scott Simmons said in a statement. "This is an exciting day as we welcome a storied institution in Canadian Pacific as a proud partner in Canadian golf."
A charitable component linked to the tournament to benefit the host community will be announced at a future date.
"On behalf of the LPGA Tour, I would like to congratulate both Canadian Pacific and Golf Canada on today's exciting news regarding the Canadian Women's Open," said LPGA Tour commissioner Mike Whan. "For our players, this championship has become a must-play event and we look forward to working with Canadian Pacific to showcase the LPGA Tour to millions of golf fans in Canada, across North America and throughout the world."
Ko also won the tournament in 2012, when she was just 15. She recently announced that she is turning professional.