The Australian Ladies Masters is at the crossroads after 27 years as tournament promoter Bob Tuohy battles to keep the golf tournament afloat.
Tuohy today confirmed agreements with major sponsor and venue owner RACV as well as the Gold Coast City Council expire after this year's tournament.
"It is bloody difficult," Tuohy told AAP on Wednesday, the eve of the 2016 tournament at longtime host course Royal Pines.
"We'd obviously love to continue with the event but you have to look at a lot of factors.
"Times have changed."
Tuohy, the chairman of Tuohy Associates, who have operated 203 golf tournaments in Australia, New Zealand and China since 1975, said RACV and Gold Coast Council had options to extend their agreements and he was hopeful of decisions by April.
Tuohy's agreement with Tourism Queensland extends until 2018.
The 2015 Masters is co-sanctioned by the Ladies European Tour and Australian Ladies Professional Golf and carries minimum mandatory prizemoney of 250,000 euros ($A382,312).
"The key to our sustainability over a long period has been good relationships with our tournament partners," said Tuohy.
"We've chosen to go ahead year by year but so much is dependent on schedules of other Tours, especially the LPGA Tour which now has seven events in Asia."
The LPGA's Honda Classic in Thailand, boasting prizemoney of $US1.6million ($2,227,900), clashes with this week's Ladies Masters and has attracted most of the world's leading players.
"I don't see any realistic solution in the future," said Tuohy.
"Maybe we could change the status of the tournament and somewhere find $US4-5million to gain LPGA sanctioning.
"Or we could go out and buy three high-profile players and pay them $250,000 each to play this event.
"But that would be self-destructive. You'd run out of money."
The highest-ranking player at the Ladies Masters, 18-year-old Canadian Brooke Henderson, has rocketed to No 11 in the world with strong showings on the LPGA Tour.
Henderson is part of the new breed making their mark in world golf along with the likes of World No.1 Lydia Ko, 18, top-ranked Australian Minjee Lee, 19, and defending Ladies Masters champion Su Oh, 19.
"I think a lot of success the young girls have is because of the no fear factor," said Henderson.
"I hope they say that about me."
The Canadian was surprised when told she had been installed Masters favourite.
"I think I'm up there, but Su Oh is defending and will be hard to beat.
"Cheyenne Woods is another great player. I don't know a lot of the European Tour players in the field."
RACV Ladies Masters
co-sanctioned by Ladies European Tour and ALPG.
Course: Royal Pines (Par 73, 5893m)
Prizemoney: 250,000 euros ($382,312)
Defending champion: Su Oh
Players to watch: Su Oh (Australia), Brooke Henderson (Canada), Jiyai Shin (Korea), Beth Allen (USA), Melissa Reid (England)
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