Squash might have been rejected by the Olympics but the sport was celebrating on the home front yesterday after joint title sponsors of the Hong Kong Open signed a five-year deal securing the well-being of the tournament until 2017. Cathay Pacific and Sun Hung Kai Financial agreed to continue their commitment to the event, which this year boasts total prize money of HK$1.6 million. We won't have to worry every year about where the money will come from and we can go ahead with the tournament David Mui "While other sports are scrambling around looking for sponsors, we are lucky to have two committed blue-chip sponsors who have backed us for a long time and are now continuing to do so for the next five years," said an elated David Mui Ying-yuen, chairman of Hong Kong Squash. "This financial commitment is a major breakthrough. We won't have to worry every year about where the money will come from and we can go ahead with the tournament. This is great news for squash and for Hong Kong as our tournament is one of the top five in the world," Mui said. The tough economic conditions have already claimed a number of major international events. The Hong Kong Sixes were cancelled this year due to a lack of a title sponsor. The Hong Kong Golf Open also failed to drum up a corporate backer but the Hong Kong Golf Club agreed to help underwrite the tournament, although prize money has been cut from US$2 million to US$1.3 million. The squash open (December 1-8) will once again have its last two days showcased on an outdoor court in Tsim Sha Tsui. All the world's top men and women are confirmed for the event. "We are disappointed things didn't work out for us at the Olympic vote, but we will not give up our fight. And with our future guaranteed until 2017, the open will continue to showcase everything that is good about squash to the world," Mui said.