The European Tour will be renamed the DP World Tour from next year.
The groundbreaking partnership will nearly double the total prize money on the tour to more than $200 million from 2022, with a minimum prize fund of $2 million for each tournament.
The tour will feature a minimum 47 events in 27 countries, including new tournaments in the UAE, Japan, South Africa and Belgium.
It will also include an expanded Rolex Series comprising five events: the Abu Dhabi HSBC Championship, the Slync.io Dubai Desert Classic, the Genesis Scottish Open, the BMW PGA Championship and the season-ending DP World Tour Championship.
"The launch of the DP World Tour in 2022, coinciding with both of our 50th anniversaries, will herald a new era in global golf, and crucially it will benefit everybody involved," said Keith Pelley, chief executive of the European Tour.
"The entire ecosystem of our Tour will be strengthened because of this hugely significant deal, and that was essential to us and to DP World, who have been an incredible supporter of our Tour as well as golf more widely," he added.
The European Tour and DP World were both established in 1972 and have since developed into global enterprises with DP World, which is headquartered in Dubai, evolving into the leading provider of global smart end-to-end supply chain and logistics solutions.
Introducing the DP World Tour...#DPWorldTour
— DP World Tour (@DPWorldTour) November 9, 2021
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