The Irish Open has secured a new sponsor which will see the prize fund almost double.
Horizon Therapeutics have come on board to take over from Dubai Duty Free as title sponsors.
The global biotechnology company has agreed a deal that will see the tournament become the Horizon Irish Open for the next six years.
Significantly, the prize fund is said to be set for an increase to over €5million.
The deal was brokered through the strategic alliance between the DP World Tour and the PGA Tour.
This year's tournament takes place at Kilkenny's Mount Juliet between June 30th and July 3rd.
— Horizon Irish Open (@IrishOpen_) February 10, 2022
Guy Kinnings, Deputy CEO and Chief Commercial Officer of the European Tour, said the new sponsorship was a major breakthrough for the event's stature in the global golf landscape.
"We are thrilled to welcome Horizon as the new Title Partner of the Irish Open.
"It is a tournament which always holds a special place in the global golfing calendar thanks to its history, the world-renowned Irish fans and of course the many world-class players the island has produced.
"It is a sign of Horizon's commitment to golf on the island of Ireland that they have committed until at least 2027 and we very much look forward to working with them.
"This agreement is just the latest example of how the Strategic Alliance with the PGA TOUR continues to benefit our membership."
Tim Walbert, Chairman, President and Chief Executive Officer, Horizon says the company is pleased to come on board.
"Horizon has called Ireland home for nearly ten years and this partnership with the DP World Tour further solidifies our continued business and community commitment.
"In addition to developing medicines, philanthropy is at our core.
"We have forged meaningful relationships in Ireland and know that serving as the Title Partner of this historic tournament will serve as a platform to positively impact the Irish and global community."