This year's Irish Open will have a record prize fund of €2.5 million, an increase of €300,000 from last year's event, when it is staged at Adare Manor for the first time.

While the tournament will have no title sponsor over the next three years, with organisers opting for a standalone approach for the duration of it's tenure in Limerick, a number of official partners have signed up for a new sponsorship model.

Tom Kane, who owns Adare Manor, hopes this new approach will enhance the prestige of an event he believes to be among the best on the European calendar.

"I am of the strong belief that the national championship deserves, and is worthy, of a standalone brand," he explained today.

"I believe that we should therefore operate in the same manner as The Open Championship and Masters Tournament and not be reliant on a title sponsor."