Today the ASP announced that the Billabong Pro at Jeffreys Bay has been downgraded to a 6-Star event, thus removing it from the WT schedule.
The news comes as just the latest story in a series of financially inspired tour shuffles, and sloppy moves by the ASP. In recent months Quiksilver pulled the Quik Pro NY from the schedule, followed by Rip Curl axing their Search event.
Amidst rumors of a company buyout by conglomerate TPG, and Billabong’s tentative plans to sell off Nixon and other company-owned subsidiaries, the announcement is a reflection of the trying economic times. And the decision to reduce contest funding is just a part of the company’s effort to reign in spending– closing stores, and cutting back on expenses worldwide.
You can find the press release here.