"The question Nakheel executives will be asking: Why is the deal worth $170 million?"

Alistair Tait stays on the story of Nakheel, the construction arm of the government in Dubai, and the fine folks who brought the world the giant palm islands off the Dubai coast. They've inherited the Leisurecorp mess at Turnberry (at least they can sell that, says Tait), and the European Tour's Race to Dubai:

George O’Grady, the European Tour’s chief executive, is adamant that the sponsorship deal is secure. Aaron Richardson, a senior media-relations manager with Leisurecorp, said the money to back the Race to Dubai already is in the bank.

The question Nakheel executives will be asking: Why is the deal worth $170 million?

You can bet that the European Tour would have jumped for joy had Leisurecorp offered, say, $75 million.