The World Match Play tournament will be held in Spain instead of Surrey from 2009, it has been confirmed.
Several changes to the format have been announced, with the event known as the richest tournament in golf scheduled to start again next year after taking a break this season.
Volvo will be the new sponsors of the World Match Play and the Finca Cortesin course in Andalucia is set to replace Wentworth as the venue.
With a prize fund of approximately £2.5 million on offer, 16 players will compete in a round robin-style competition, with the winner taking home about £592,000.
According to BBC Sport, the new format is designed to have a "worldwide feel", with the four groups of four players including the top-ranked golfers from each continent.
Callaway''s Ernie Els won the World Match Play at Wentworth last year, defeating Ping golfer Angel Cabrera in the final.
Entering its 45th anniversary year in 2009, the tournament has been held at the Surrey venue since 1964. The inaugural event was won by Arnold Palmer.
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