The Ladies European Tour (LET) has released a statement which 'strongly rejects' speculation that the organisation's future is in jeopardy.
The statement comes in response to a report in The Times that said the LET was on 'the brink of collapse' after they cancelled their fifth tournament of the season.
Several events had already been removed from the schedule before players were notified by email that the Ladies European Masters, set to take place in Germany in September, was to be the latest casualty on the calendar due to issues with sponsors.
Members of the LET are obviously concerned and many have had to resort to getting part-time jobs as the 'shortage of tournaments is making it impossible for them to make a living', the report claimed.
However, amid reports of concern, the LET's board of directors released this statement to dispel fears of a collapse. "The LET strongly rejects the recent negative speculation in the press about its future."
"The Tour has made significant investments over the last few years to raise its brand profile and television footprint which has already led to the introduction of a number of new tournaments."
"As with any international organisation, the LET is always subject to political and commercial disruption around the world and it deeply regrets that a number of unrelated events have led to tournaments in the first half of this year's schedule not coming to fruition as planned. We fully understand the frustrations that our members have with the tournament cancellations and are doing everything we can to improve the situation.
"Nonetheless, the remainder of this year's schedule remains strong and we are looking forward to the Aberdeen Asset Management Ladies Scottish Open - our first fully co-sanctioned event with the LPGA Tour - in July, not to mention what promises to be the biggest Solheim Cup in its history in Des Moines, Iowa, the following month."