Golf

The PGA Tour “positions faster” and raises funds in five events

The PGA Tour has raised higher prizes in its five biggest events. Two of the FedEx Cup playoffs now offer a $15 million schedule, which brings this year’s prize money closer to the $500 million mark.

The increased bonuses were approved at a board meeting in Houston two weeks ago, including a $12 million bonus for three invitational games, and a memo issued to the player’s PGA Tour Commissioner Jay Monahan on Monday An overview is given in.

Monaghan said in a memo obtained by the Associated Press: “In the next 10 years, we will grow faster than we have ever existed.”

Monaghan said that the tour’s prediction is that 55% of the income will be returned to the players as bonuses, bonus plans and other benefits. The $838 million allocated to players includes $32 million in the reserve fund.

The prize money for the official event is 360.1 million U.S. dollars. This does not include the $75 million in the FedEx Cup, nor does it include the Grand Slam, which is now behind the regular PGA Tour events.

Grand Slams usually do not announce their wallets before the game is approaching. A year ago, the richest Grand Slam tournament was the US Open with a prize of $12.5 million. PGA Championship prize money is 12 million U.S. dollars, US Masters and British Open prize money is 11.5 million U.S. dollars.

The memo is a year-end message sent earlier than usual, partly because it was announced earlier this month Greg NormanThe leadership team funded by Saudi Arabia’s sovereign wealth fund plans to inject US$200 million into the Asian Tour as a step towards a world tour that creates guaranteed wealth.

Monaghan did not mention the competition tour in his memo.

The tournament has announced the 2021-22 schedule, which shows that most tournaments have increased their prize money by nearly $1 million.

The updates approved by the board include the playoffs-the FedEx St. Jude Championship and the BMW Championship-with prize money increased from $11.5 million to $15 million, which means that the winner will receive $2.7 million. This is an improvement from the $9.5 million wallet a year ago.

In addition, prizes for the Riviera Genesis Invitational, Bay Mountain Arnold Palmer Invitational and Mufield Village Memorial are as high as 12 million U.S. dollars, up from 10.5 million U.S. dollars listed previously and 9.3 million U.S. dollars a year ago.

The World Golf Championships-Dellby Play will also have a prize of 12 million US dollars.

The average prize money for the PGA Tour, excluding the four opposing events, is about 9 million U.S. dollars.

Together with the prize money, the FedEx Cup prize pool has been increased from USD 60 million to USD 75 million, and the winner will receive USD 18 million. The Comcast Business Tour Top 10 provides bonuses to top players in the regular season, and its total bonus has doubled to 20 million US dollars.

The Player Influence Program rewards leading players based on various media metrics, with the amount increased from US$40 million to US$50 million.

The Tour said that US$685 million of the US$838 million allocated to players will be used as player compensation, such as bonuses and bonuses. The rest is used for retirement and benefit plans.

These increases are mainly due to the nine-year media copyright agreement (online and digital) with a value of approximately US$7 billion that will take effect in 2022.

Monaghan said in the memo: “In the past 20 months-because we have weathered the pandemic and restored our operating reserves-we have prioritized the wallet and comprehensive income growth of all positions in the FedEx Cup. ,” he added that this tournament is “bullish” in the forecast.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button