Tournament axed in credit crunch

France's Gwladys Nocera won the Indian Masters in 2007

Golf has felt the effect of the global economic downturn after the Ladies' European Tour announced next month's Indian Masters has been cancelled.

The event, from 4 to 7 December at the Eagleton Resort, would have been the penultimate event of the 2008 calendar.

"We did all we could to ensure the event is held on schedule, but sadly we were unable to do so," said Tour executive director Alexandra Armas.

"We look forward to the possibility of returning to India next year."

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As a result of the cancellation, the one remaining tournament this year will be the Dubai Ladies Masters from 11 to 14 December.

It will see the final professional appearance of 10-time major winner and defending champion Annika Sorenstam before she retires.