The Ladies European Tour is a professional golf tour for women which was founded in 1978. It is based at Buckinghamshire Golf Club near London in England. Like many UK-based sports organisations it is a company limited by guarantee, a legal structure which enables it to focus on maximising returns to its members through prize money, rather than on making profits for investors. The tour is run by a Board of Directors and a Players' Council. Most of the players on the tour are European, with members from more than 40 countries internationally. The tour operates tournaments across five continents. History The U.S.-based LPGA was founded in 1950, but women's professional golf was slower to get established in Europe. In 1978 the Women's Professional Golfers' Association (WPGA) was formed as part of Professional Golfers' Association of Great Britain and Ireland. A tour was established the following year with Carlsberg as the main sponsor, supporting 12 36-hole tournaments, with several other tournaments including the Women's British Open on the schedule. For the first two seasons, the majority of tournaments were held over 36-holes; in 1981, that increased to 54-holes. Total prize money on the tour was planned to rise to £250,000 in 1981, from £80,000 in the inaugural season, but several tournaments and pro-ams were lost after sponsors withdrew. Carlsberg ended their sponsorship after the 1981 season, and despite initial optimism, the tour experienced further problems during its fourth season in 1982 as several more events were cancelled. The circuit was left with just ten tournaments, from which few players could make a living, and the future of the WPGA was being questioned. In 1988 the tour members decided to form an independent company, the Women Professional Golfers' European Tour Limited. This new company moved away from the PGA's headquarters at The Belfry and set up its own headquarters at the Tytherington Club in Cheshire. In 1998 the Tour changed its name to European Ladies' Professional Golf Association Limited and again in July 2000 to Ladies European Tour Limited. In 2008 the tour relocated to offices at the Buckinghamshire Golf Club, which is just outside London. In 2010, the LET Access Series (LETAS) was launched as the official development tour. In January 2020, the Ladies European Tour entered into a joint venture arrangement with the LPGA Tour, with the stated aim of "increasing playing opportunities for female golfers in Europe". The