DP World Tour players will be guaranteed $150,000 each next season as part of a record prize fund of $144.2m in the fightback against LIV Golf.
The Earnings Assurance Programme will see lower-ranked pros bank the money regardless of results if they play a minimum of 15 events. The PGA Tour announced a similar programme in August with US-based players guaranteed $500,000 a year as part of a new $415m schedule in 2023.
Both Tours have been forced to react to Saudi-backed LIV Golf which offered $255m in prize money for eight events this year with Dustin Johnson banking over $35m. LIV players have been offered huge signing-on fees with last place in each 48-man event worth $120,000.
Chief executive Greg Norman has said the breakaway league is looking to sign another seven players for an expanded 14-event schedule next year.
Today’s schedule and increased funding is the latest response by the established tours - and the DP World announcement said the money is “underpinned and guaranteed” by the strategic alliance announced with the PGA in June.
DP World Tour’s chief executive Keith Pelley said: “For us to be able to offer our members record prize funds and enhanced earning opportunities is massive, particularly when global economies are still feeling the effects of Covid and with the new challenge of rising inflation significantly putting pressure on costs in all facets of our business.
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“Our overall prize fund for the 2023 season represents almost $30 million more than five years ago and also underlines the strength of our partnership with the PGA TOUR, who are working with us to drive revenue and a long-term growth plan.
“One of the many benefits we have been able to introduce because of this partnership is the new Earnings Assurance Programme, similar to what they already have on the PGA TOUR. I have always believed that it is an incredible accomplishment for any professional golfer to simply gain their playing rights on the DP World Tour and this new initiative recognises and rewards that achievement.
“Although we will never lose the magic of the meritocracy and purity of a performance-based structure, this now offers certainty of income to those players who have made it to the pinnacle of the professional game in Europe.”
The DP World Tour announced a prize fund of $140m last November but because of the loss of tournaments due to COVID, the figure dropped to $136m.
The money - for a minimum of 39 events in 26 countries - does not include the cash on offer at the Majors and WGC-Dell Technologies Match Play.
The first four Rolex Series events - The Abu Dhabi HSBC Championship, Dubai Desert Classic, Genesis Scottish Open and BMW PGA Championship - will all see prize money increase from $8m to $9m with the season-ending DP World Tour Championship worth $10m.
The power struggle between the PGA and DP World Tours and LIV Golf is set to continue.
LIV Golf players face a court hearing with the DP World Tour in February over their rights to play. They are currently allowed to tee up under a temporary injunction. LIV Golf and three players - Bryson DeChambeau, Peter Uihlein and Matt Jones - have filed an antitrust case in California against the PGA Tour which is scheduled for trial in January 2024.
