John Beddington, the promoter responsible for the Honda Challenge tennis event, and US enterpreneur John Nimick will invest in the 83-year old event to ensure that it does not drop of the calendar.
The event, which was postponed from its usual slot in April, will now take place at the Albert Hall in Nottingham in October.
The British Open, which is without a title sponsor, is no longer a Super Series event in the squash diary but is expected to have a prize fund of between £25,000 and £30,000 which should attract the top players.
Said Beddington: "We were determined the British Open wasn't going to miss a year. Our plan is to build it, not necessarily to its former glory, but to keep it at the peak."
The future of the British Squash Open has been secured after two promoters agreed to fund the event out of their own pockets.
