'Today's announcement of the extension between the European Tour and Volvo to the end of the 2004 season reaffirms the depth of the special, long term relationship that exists between Volvo and the tour,' said Ken Schofield, executive director of the European Tour.
Volvo began its partnership with the tour in 1987 and currently is the title sponsor of the Volvo PGA Championship, the Volvo Masters Andalucia and the Volvo Order of Merit.
'Over the past 15 years, Volvo and The European Tour have established a close partnership which has flourished, thanks to a mutual long term strategy of quality and commitment to excellence,' said Gerry Keaney, managing director of Volvo Car U.K. Limited.
The purse for the 2003 Volvo PGA Championship will increase by 250,000 pounds. This year, 31-year-old Anders Hansen became the first player to earn his maiden title on the European Tour at the event.
More Golf Headlines