The European Tour has canceled the Iberdrola Open after the Spanish event was unable to secure a sponsor for the tournament.
Originally scheduled to take place May 10-13, the Madeira Islands Open will replace the event on the schedule. The Portgual-based event moves up two weeks from opposite the Volvo World Match Play Championship.
Its just a reflection of the tough economic times everyone is facing at present, said European Tour Chief Operating Officer Keith Waters, according to the Associated Press.
Last year, Darren Clarke came from behind on the final day to defeat Chris Wood for the title, the first of two wins during the year for Clarke. He would go on to win the Open Championship in July.
The tournament was the first European Tour event played since the passing of Seve Ballesteros. Ballesteros son, Javier, had been offered and accepted an invitation to compete in the tournament. He is completing law school in Spain before deciding if he will turn pro.
Its a bit disappointing as I was looking forward to playing in Mallorca, Ballesteros said.