World snooker's governing body have revealed plans of a new seven-tournament circuit called the LG Electronics Tour.
Snooker is still without sponsorship for certain events
The total prize money of the tour will be £3.5m, largely funded by income received from television contracts.
The circuit begins with the LG Cup in October and climaxes with the Players Championship, formerly the Scottish Open, in April.
LG ELECTRONICS EVENTS
LG Cup, 4-12/10/03.
British Open, 8-16/11/03
UK Championship, 18-30/11/03
Welsh Open, 19-25/1/04
European Open, 1-7/3/04
Irish Masters, 21-28/3/04
Players Championship, 3-11/4/04.
The Embassy World Championship and the Masters will remain separate from the main tour.
Issues surrounding funding events have been a major dilemma for World Snooker ever since the British government brought an end to the sport's relationship with tobacco companies.
That legislation affected The Masters, Welsh Open and Scottish Open (The Players Championship), while the Embassy World Championship had its prize fund cut by 20% for the 2003/2004 season.
And although money from the sport's big television contract with the BBC has seemingly bailed out World Snooker, the governing body realise it is a priority to find other sources of revenue.
"There won't be a problem funding the seven events on the new tour," said World Snooker spokesperson Ivan Hirschowitz.
"We know its important to find sponsors for the events which don't have them, but I can assure people we are working hard to resolve this situation."
Hirschowitz declined to comment on how much new tour backers, LG Electronics, had added to the overall prize money.