Scottish Open finds new sponsor

• By Ryan Ballengee
• Mar 30, 2012 11:30 AM ET

The European Tour announced Aberdeen Asset Management as the new title sponsor for the Scottish Open. 

“We are delighted to announce our sponsorship of the Aberdeen Asset Management Scottish Open. As a loyal supporter of Scottish golf for nearly 15 years, we are proud to be involved in sponsoring this globally (recognized) tournament," said Aberdeen Asset Management CEO Martin Gilbert in a Friday release.

The investment management company replaces Barclays PLC after a decade as the title sponsor of the precursor tournament to the Open Championship. The three-year deal is guaranteed for the first two years, with an option for the final year.

The prize pool for the '12 Scottish Open will be £2.5 million – a small decrease over last year. For the remaining two years of the deal, the purse will rise to at least £3 million.

The agreement is accompanied with a commitment by the Scottish government to provide tournament funding through 2014, leading into the Ryder Cup at Gleneagles.

For the second year, the event will be played at Castle Stuart Golf Links from July 12-15. The venue remains undecided for 2013 and '14, however.

Luke Donald will defend his title. He won over 54 holes last year after torrential rain caused mudslides and course damage.