The European Tour is conducting a 'full investigation into all aspects of finances of tournaments' after it was revealed that prize money has yet to be paid from the Indonesian Open four weeks ago.
The South China Morning Post revealed on Friday that Thai Thaworn Wiratchant was still waiting for his US$120,000 cheque after winning the event, which is co-sanctioned by the Asian and European Tours and promoted by Parallel Media Group (PMG).
'We are aware of the situation and we are conducting a full investigation into who is and who isn't owed money,' European Tour executive director George O'Grady said yesterday at the Johnnie Walker Classic.
'We are investigating the finances of all tournaments ... are they financially sound? Not all golf tournaments make money - you take a risk if you are a promoter and Parallel Media have done that. They have run five tournaments. Four, in prize-money terms, are fully paid up and the last one will be paid up very shortly.
'We are also aware of the wider responsibilities. Prize money is just one aspect of a tournament ... there are staging costs, constructor's costs, all contractual things ... and we are trying to understand exactly what is owed or not owed.'
PMG president David Ciclitira said on Friday that 75 per cent of the money for the Indonesian Open had been deposited with the European Tour and the rest would be paid this week when sponsors fulfilled their commitments.
O'Grady said that figure was 60 per cent, but he was certain the Asian and European Tour players would have their winnings by the end of this week. 'We are sitting on 60 per cent of the money and we are negotiating with Parallel Media,' O'Grady said.