After staging women’s tennis events since 1991, the PTT Thailand Open is facing a turbulent period and is currently at high risk of putting an end to the event after 2015.

Ironically, the news was revealed on the tournament’s official website hours after the WTA announced a historic and record-breaking $525 million media broadcast deal for the coming decade. It appears that tournament director Geoffrey Rowe referred to contract terminations as the main reason for the concerns about the tournament’s future.

“At the same time funding from other key sponsors has also been cut, which means the financial viability of the tournament is at risk. We have no option but to go ahead with the tournament in 2015 but we need to seriously consider the situation beyond next year. It is a great pity as the tournament is Thailand’s longest-running professional sporting event and we were looking forward to celebrating our 25th anniversary in 2016.”

If the Thailand Open ceases to exist, it would follow in the footsteps of the Portugal Open, which was cancelled when the tournament officials deemed it no longer financially viable.

The PTT Pattaya Open takes place Feb. 9-15 2015.