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The DP World Tour has cut ties with a major sponsor just months into a five-year deal.

Slync.io agreed to sponsor the Dubai Desert Classic at the start of this year. However, the firm has since hit trouble.

Chairman and CEO Chris Kirchner is reported to have been suspended amid claims staff have not been paid, while other financial irregularities have also been investigated.

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The Dubai Desert Classic has a purse of $8million and forms part of the DP World Tour’s flagship Rolex Series. It has been a staple of the circuit for more than 30 years.

A tour spokesman told the Guardian: “We have reached an agreement with Slync.io regarding the termination of their agreements with us for various DP World Tour assets, including the Dubai Desert Classic title sponsorship.

“The tournament will continue to be part of the Rolex Series and we look forward to the 2023 edition from January 26-29 at Emirates Golf Club.”

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Kirchner attempted to buy Derby County Football Club earlier this year, but his bid failed after he failed to produce funds before a pre-arranged deadline.

Former US Open champion Justin Rose had a deal with Slync, which was founded in 2017, but has recently been seen without its branding on his clothing.