Published Wednesday, 09 May 2012
Royal Portrush is set to host the Irish Open in June. (© Getty)
The European Tour event has a total prize money of around £2m, but it's understood it will cost almost double that to run the golfing tournament.
"Sponsorship is a commercial matter and the responsibility of the European Tour," Tourism Minister Arlene Foster said.
The Northern Ireland Executive is committed to ensuring that the Irish Open at Portrush will be a success.
Tourism Minister Arlene Foster
"Over recent years, many European Tour events have successfully taken place without a title sponsor due to the current tough economic climate.
"However, I am aware that a number of other significant sponsors have already been secured and further expressions of interest are being followed up."
Ms Foster did welcome the addition of official sponsor Brewin Dolphin - which is one of the UK's largest independent private client investment managers, with offices in both Belfast and Dublin - as a "major coup".
Tickets for the Irish Open are understood to be selling at unprecedented levels, with 90,000 people expected to visit the North Coast over the 28 June-1July period.
Northern Ireland's three major winners Darren Clarke, Graeme McDowell and Rory McIlroy are already confirmed for the event, as are three-time major winner Padraig Harrington and reigning USPGA champ Keegan Bradley.