Ireland looks likely to survive the cash crisis and stage a hat-trick tour events this season.
Challenge Tour marketing executive Mark Aspland confirmed yesterday that he was "very hopeful" that the Challenge of Ireland would go ahead in July despite the economic gloom.
And it also emerged that Failte Ireland is planning to invest in the Irish Seniors Open again in addition to its announced support for the 3 Irish Open in Killarney.
All this just three weeks after it appeared that the powers at Wentworth appeared to have given the seniors event up as a lost cause
Aspland said: “It’s a case of watch this space at the moment. We are definitely intending to keep the Challenge of Ireland going next year and we have a potential title sponsor waiting in the wings for the first time.
“It is all very much up in the air but we hope to get everything nailed down over the next two weeks.
“The Irish Sports Council have confirmed their financial support as well and we are hopeful that Ryder Cup Ltd will also support us.
“While we haven’t had that discussion internally yet, I know that the Ryder Cup director Richard Hills is keen to support the Challenge of Ireland.”
The 2010 Challenge Tour schedule has yet to be released but the tour announced on Friday that the season will begin with a new event, the $220,000 Abierto Antioquia,in Colombia from 18-21 February.
The Challenge of Ireland will almost certainly take place from July 22-25, which is the week before the 3 Irish Open.
There is also hope that the Irish Seniors Open will go ahead for the 14th successive year with sources close to the European Tour revealing that Failte Ireland is ready to invest in the prize fund as part of the national tourism strategy.
European Seniors Tour boss Andy Stubbs appeared resigned to losing the event last month due to lack ofbacking.
However, a Failte Ireland spokesman confirmed that negotiations were still on-going and that an announcement was imminent.
"We are very positive about the way things are going and expect to make an announcement regarding the Irish Seniors Open over the coming weeks,” the spokesman said.