Snooker’s China Open has agreed a deal for financial services company Fuhua Group to become its new title sponsor.
The deal has been signed ahead of the 2018 edition of the event, which runs from April 2-8 at the Olympic Sports Center in Beijing. The four-year agreement runs until 2021.
This year’s China Open will feature a prize fund of £1m (€1.1m/$1.4m), making it only the second snooker tournament to offer such a purse. The prize fund has been upped through a new four-year hosting agreement with joint promoters Star Xing Pai and Beijing Fuhua Culture Tourism Development.
The China Open will now only be rivalled by the World Championship in terms of prize money, with a top prize of £225,000 and a total fund of £1m.
Last year’s prize fund at the China Open was £510,000, with £85,000 going to the winner, Mark Selby (pictured). The new £225,000 winner’s cheque will only be topped by the World Championship first prize of £425,000.