The event, organised by the Isle of Man Commonwealth Games Association (IOMCGA), is due to take place at Ramsey Golf Club on May 26. 

It will be sponsored by Standard Bank and held in association with the Isle of Man Business Network. 

"It’s a great opportunity for local businesses to support Team Isle of Man as sport plays such a key role on our Island," Basil Bielich, the newly-elected President of the IOMCGA, said.

"Due to the success of our Corporate Golf Day last year we are excited to be holding this event again.

"I would like to thank Standard Bank for their continued and loyal support, and also to the Isle of Man Business Network for getting involved this year. 

"I look forward to seeing our keen corporate golfers on the day."

Entry costs £250 ($310/€295) for a team of four players who can enjoy pre-game bacon baps, four-ball competition, a full 18 holes, a presentation and meal afterwards.

"Being a South African bank, Standard Bank has sport in its DNA so we’re proud to be associated with the Isle of Man Commonwealth Games Association and support this fundraising golf event," Chris Till, chief executive of Standard Bank Isle of Man, said.

"After the success of the Glasgow Games, with the Isle of Man’s silver medal, let’s hope that our competitors, with the support of businesses and the people of the Isle of Man, can achieve even more at Gold Coast 2018."

The Isle of Man won one medal at Glasgow 2014, a silver for track cyclist Peter Kennaugh in the points race.

Their best performance at the Commonwealth Games was the last time the event was held in Australia, at Melbourne 2006. 

Mark Cavendish won the gold medal in the men's scratch cycling race and shooters Trevor Boyles and Dave Walton a bronze in the men's trap pairs.

Since making their Commonwealth Games debut at Cardiff 1958, the Isle of Man have won a total of 11 medals, three of them gold.