LOS ANGELES • The PGA Tour said on Monday it plans to increase prize money at its most lucrative events next year, pumping millions more into limited-field tournaments in a move that comes amid reports of a new Saudi Arabia-backed golf series.
In a memo sent to players, PGA Tour commissioner Jay Monahan outlined plans to boost purses for players across the board. "Financial rewards and other benefits - not just for the top players but for the entire membership - are growing at an extraordinary pace," he wrote, adding the PGA is "stronger than at any time in our history".
The FedExCup bonus pool for next year has increased by US$15 million (S$20.5 million) to US$75 million, while the FedEx Cup champion will receive a whopping US$18 million - up from the US$15 million claimed by Patrick Cantlay earlier this year.
The opening two events of the FedEx Cup play-offs - the St Jude and the BMW Championship - will each see prize money boosted by more than US$5 million to US$15 million.
The Players Championship purse has also jumped from US$15 million to US$20 million, making it the richest event in golf.
The PGA's three invitational events - the Genesis Invitational, the Arnold Palmer Invitational and Memorial will now offer US$12 million each, up nearly US$3 million per tournament.
The annual bonus pool for the Tour's top 10 players during the regular season has doubled to US$20 million.
The PGA will also increase the pool of money, from US$40 million to US$50 million, distributed via its Player Impact Programme.
The controversial initiative launched this year is designed to recognise and reward players whose impact and influence is measured by different metrics such as social media engagements and media coverage generated.
Although Monahan's memo made no mention of rival tours, this comes just weeks after former world No. 1 Greg Norman announced plans to launch 10 new events with the Asian Tour over the next decade.
The partnership comes with financial backing from Saudi Arabia's Public Investment Fund and a commitment of more than US$200 million.
The new events will be staged across Asia, the Middle East and Europe and the series will be added to the Asian schedule starting next year.
AGENCE FRANCE-PRESSE
