At the official launch of the tournament in Auckland this afternoon, NZ Open Organising Committee chairman John Hart said the increased prize money, up from $900,000 last year, solidified the championship as one of the pre-eminent golf tournaments in the Asia-Pacific region.
Overall funding has also increased, with the Government yesterday announcing a commitment of almost $1 million per annum for the next two tournaments.
Minister of Economic Development Steven Joyce announced the Open would receive $700,000 per annum from the Major Events Development Fund, along with up to $250,000 per annum from the Government - to be matched by tournament promoters Michael Hill Tournaments Ltd - going towards television production and distribution to a world-wide audience and supporting wider commercial objectives.
The 2015 tournament will be broadcast live in New Zealand by Sky Television and in Japan to eight million homes via the Japan Golf Network.
Additional international broadcast partners are still to be confirmed, but there would be distribution throughout Australia and around the world with an expected reach of 200 million households.
Dunedin-based Animation Research Ltd would lead the television production of the tournament, played at The Hills and Millbrook Resort from March 12 to 15.
Mr Hart also announced BMW Group as naming rights sponsor for the 2015 tournament, which "made a statement of support'' for the unique format of the Queenstown-based Open.
The tier one event on the PGA Tour of Australasia would continue its partnership with the Japan Golf Tour Organisation (JGTO) for 2015, with 15 spaces of the maximum field of 144 reserved for leading JGTO professionals.
