×

We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now
Picture: 123RF/DEKLOFENAK
Picture: 123RF/DEKLOFENAK

The Sunshine Tour announced on Thursday that Luno, the global cryptocurrency platform, is the new sponsor of the Luno Order of Merit on the Tour.

In announcing the new sponsorship, the Sunshine Tour also unveiled a new format for the Luno Order of Merit for the upcoming 2022/2023 season as it shifts from a money-based order of merit to the more globally recognised points-based rankings system.

The Luno Order of Merit also offers exciting new incentives for the Sunshine Tour professionals.

The leading golfer on the Order of Merit at the end of the season will receive R500,000 in bitcoin, paid directly into the golfer’s account. The second-ranked golfer on the final Order of Merit will receive R200,000 in bitcoin, and the third-ranked golfer will receive R100,000 in bitcoin.

“Luno is focused on empowering people by building a new financial system that is easily accessible, meets the challenge of a constantly evolving world, and which is more suited to the digital age,” said Marius Reitz, Luno GM for Africa.

Thomas Abt, Sunshine Tour commissioner, said: “Luno is a brand which fits our strong digital focus and the new, younger audience we are reaching, and we are delighted to welcome them to the Sunshine Tour.”

The new points system for the Order of Merit came into effect on April 30. Points will be allocated according to the tournament prize money on offer as follows:

Tier 1 tournament (prize money up to R2m): 2,000 points.

Tier 2 tournament (prize money between R2,000,001.00 and R5,999,999): 4,000 points.

Tier 3 tournament (prize money between R6m and R10m): 6,000 points.

Tier 4 tournament (prize money between R10,000,001 and R19,999,999): 10,000 points.

Tier 5 tournament (prize money of R20m or more): 12,000 points.

subscribe

Would you like to comment on this article or view other readers' comments?
Register (it’s quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.