In 1998, the first tournament after the transfer of sovereignty to China, tickets were not sold internationally and the event was stricken with a bankrupt sponsor Peregrine. The Union's Organising Committee worked hard, and successfully implemented its marketing strategy to get the local population involved through "Friday Night is Party Night" and secured CSFB as sponsors "on a spur-of-the-moment", the event was a comparatively huge success. In 2011, after HSBC negotiated title sponsorship to the entire World Sevens Series tournaments, it was no longer possible for Credit Suisse to sponsor the Hong Kong leg after 14 years.