The Open Championship would no more be sponsored by Royal Bank of Scotland, as RBS has pulled down its funding to the event, which it has been sponsoring for the last nine years.

"For over a century we have enjoyed a close and mutually beneficial relationship with The R&A, golf's official body and in the last nine years as an official patron to The Open Championship”, said RBS’ spokesman.

Also, as declared by the bank, it has also cancelled its sponsorship for Formula 1, which will be applicable from the next event. RBS also withdrew its support to golfers Luke Donald and Paula Creamer last year and nullified its partnership with US’ Sports organizer, the PGA of America.

As thought of, RBS has parted itself from the UK golf event so as to distance itself from its former Chief Executive, Sir Fred Goodwin, who is a big fan of this sport and signed up Jack Nicklaus, the golfing superstar, as a brand ambassador for RBS.

There are no alternations in the sponsorship provided to the US Open, 6 Nations Rugby, and tennis player Andy Murray. The motor-racing marvels, Mr. Nicklaus and Sir Jackie Stewart, will continue to be RBS’ brand ambassadors.

As stated by the bank on Friday, it would appraise all the sponsorships whose contracts are about to expire in context of their benefits to its business and shareholders.