Apparently feeling the pressure after several high-profile players defecting for the blood-money funded, upstart LIV Golf Tour, the PGA Tour sent a memo to players outlining several new initiatives aimed at increasing revenue and improving the product.
Key among the changes outlined in the memo from commissioner Jay Monahan are significantly increased purse sizes for eight different Tour events in 2023. The combined extra purse money is about $54 million more than in 2022, or an average of more than $6.7 million more over the eight events, which includes $5 million more at The Players Championship, FedEx St. Jude Championship and BMW Championship.
In a memo to players on Wednesday Tour commissioner Jay Monahan outlined purse increases at eight regular season events and the creation of an international fall series. pic.twitter.com/NPW85UNWkK
— Rex Hoggard (@RexHoggardGC) June 22, 2022
This comes as the USGA increased the purse of this year’s U.S. Open by $5 million to a record $17.5 million, a number now smaller than all but one of these events. According to the memo, the increases will be funded by sponsor support and supplemented in the short term by the operating reserve. They come as players like Phil Mickelson, Dustin Johnson and Brooks Koepka have left the tour in recent weeks to play for the Saudi-funded LIV Golf.
Other changes announced by Monahan include:
- A return to a calendar-year schedule with the FedExCup contested from January to August, culminating with the FedExCup Playoffs and followed by the fall events to determine the top 125. The first full year of the new system will be 2024.
- Revised qualification for the FedExCup Playoffs in 2023 and beyond.
- Creation of a series of up to three international events to be played at the conclusion of the fall schedule.
Memo from @PGATOUR commish Jay Monahan to players. pic.twitter.com/dDlnAvqSJp
— Golfweek (@golfweek) June 22, 2022
