Australian Ladies Masters promoter Bob Tuohy says he's struggling to keep the tournament afloat after 27 years.

The tournament, which has been played at Royal Pines since 1992 and has a list of former champions that includes Karrie Webb and Annika Sorenstam, begins Thursday with No. 11 Brooke Henderson as its top-ranked player. It is sanctioned by the Australian and Ladies European Tour.

The LPGA's Honda Classic in Thailand clashes with the Australian event and has attracted most of the top players.

Tuohy said agreements with the major sponsor and Gold Coast City Council expire after this year, adding "we'd obviously love to continue with the event, but you have to look at a lot of factors. Times have changed. I don't see any realistic solution in the future."