PGA Tour Announces Major Changes in Prize Money for the 2023 Season

0

After holding a meeting with players at the Travelers Championship on Tuesday, PGA Tour Commissioner Jay Monahan outlined ways to “strengthen and develop” the tour. Which includes a significant increase in the wallet in the future.

In a letter published on Wednesday, Monahan detailed that eight tournaments in 2023 will bring (in most cases) several million dollars more than before.

According to the Commissioner’s statement:

… Policy Council … amended the Resource Allocation Plan to increase the size of wallets at the next eight events in 2023:

• Sentry Tournament of Champions — $15 million (compared to $8.2 million in 2022);

• Genesis Invitational — $20 million (compared to $12 million in 2022);

• Mastercard’s Arnold Palmer Invitational Invitation – $20 million (compared to $12 million in 2022);

• Players Championship — $25 million (compared to $20 million in 2022);

• WGC — Dell Technologies Match Play — $20 million (compared to $12 million in 2022);

• Memory Tournament organized by Workday – $20 million (compared to $12 million in 2022);

• FedEx St. Championship Jude — $20 million (compared to $15 million in 2022);

• BMW Championship — $20 million (compared to $15 million in 2022);

The PGA says the increase will be funded by sponsors and supplemented by an “operational reserve” in the short term.

After seeing LIV hand over bags of money to his golfers, the Tour hopes to sweeten the pot with 10 big winners who have jumped ship to the Saudi-backed league.