Hero Honda Motors Ltd has set a budget of over Rs 3 crore towards sponsorship of golfing events this year. For the four-day Hero Honda Masters 2002, which begins on February 14, 2002, at DLF Golf & Country Club in Delhi, the two-wheeler major has increased the prize money by 50 per cent from $200,000 to $300,000. The tournament is an event on the Asian PGA Davidoff Tour.

According to Mr Pawan Munjal, director & CEO, Hero Honda Motors, The new dates and the increased prize money will once again produce the highest quality of golf.

Hero Honda has identified outdoor sports cricket and golf to build a distinct image for the company and its products. We see enormous benefits in association with golf, says Mr Atul Sobti, vice-president, Hero Honda.As a lot of youth are getting involved with golf the event itself will move beyond a corporate positioning exercise.

To re-inforce its association with golf, Hero Honda had earlier roped in Mr Jeev Milikha Singh as its brand ambassador.

Besides golf, Hero Honda has also signed up as a sponsor of the ICC tournaments till 2003 to be held in South Africa.