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PGA Tour Prize Money Increases

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JB

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Starting in 2023, a lot of changes will be taking place on the PGA Tour to combat the rival LIV Tour. Despite the stern thoughts early on that this was not about money, but rather legacy, financial changes are being made including some tournaments getting a big purse increase.

Sentry: $15m from $8m
Genesis, Arnold Palmer Invivational, Memorial and WGC: $20m from $12m
Players: $25m from $20m
FedEx St Jude and BMW: $20m from $15m

And you can expect more confirmations coming soon on major changes taking place.


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Amazing they have found all this money all of a sudden.
 
Good for the players, but how all of this came to be, not a great look for the leadership of the PGA tour.
 
Snickerdog said:
Amazing they have found all this money all of a sudden.
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"Operating reserve. They had it, or a significant portion of it, available.
 
it's almost like the liv stuff forced the pgat to improve. hmmm, where have i heard that before...
 
 
I really don't know what to think about this. Ignore the fact that all this money just magically appears and is available.

Hopefully throwing money at it isn't the extent of the changes to the tour. It seems like the easy thing to do, and they could/should have done it sooner.
 
Isn’t this just distracting from one of Phil’s primary gripes? Or is this a step in the right direction?

“It’s not public knowledge, all that goes on,” Mickelson said. “But the players don’t have access to their own media. If the tour wanted to end any threat [from Saudi or anywhere else], they could just hand back the media rights to the players. But they would rather throw $25 million here and $40 million there than give back the roughly $20 billion in digital assets they control. Or give up access to the $50-plus million they make every year on their own media channel.”
 
McLovin said:
it's almost like the liv stuff forced the pgat to improve. hmmm, where have i heard that before...
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On June 12, we were told that it was all about legacy and teeing it up against the best in the world. At least that is what the Commissioner emphatically told Jim Nantz. Now 10 days later, the Commissioner tells us it's really about money. And from operating reserve, we can come up with all this money to fund existing events and create new events.
 
I find this interesting. If I recall, and I think I do (ha), the World Golf events kinda sorta came to be after Norman stated interest in building a World Golf Tour. So, on the one hand I am most annoyed at the archaic (?) methods in place for the PGA Tour to make the sort of changes that will benefit the players, but at the same time, I am amazed how quickly they act to leech the ideas of others (whether I agree with the others or not, that's a different debate).

So, good, the tour is spending/offering money to the field in making purses bigger. Will this be enough - it may keep some from leaving, but then again, if it's really about money - and everyone gets a trophy (54 Golf), then, it's only partly about money - mainly sure, but extra days off, signing bonus(es), fewer events, guaranteed payouts, no cuts.

Anyway, good on the Tour adapting, but face palm for being forced to do what appears to have been available and right - until cornered.
 
This is crazy and awesome at the same time. I love that all the stuff Phil wanted is coming to fruition, but the tour is a bit hypocritical here talking about legacy and all that, then finding the bag of $$ to bump these events. If LIV doesn't force this, we never see this IMO.
 
Bernoulli said:
On June 12, we were told that it was all about legacy and teeing it up against the best in the world. At least that is what the Commissioner emphatically told Jim Nantz. Now 10 days later, the Commissioner tells us it's really about money. And from operating reserve, we can come up with all this money to fund existing events and create new events.
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Nobody ever said legacy was free.
 
PKorf said:
why?
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not speaking for Danny, but my guess is this comes across a bit duplicitous, since their stance this whole time was "The tour is more about the money, we have legacy and offer something no other tour can"

while some of that might be true, the moral stance and money part holds no water anymore.
 
mikeg_74 said:
not speaking for Danny, but my guess is this comes across a bit duplicitous, since their stance this whole time was "The tour is more about the money, we have legacy and offer something no other tour can"

while some of that might be true, the moral stance and money part holds no water anymore.
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RealPretendPsychic said:
Isn’t this just distracting from one of Phil’s primary gripes? Or is this a step in the right direction?

“It’s not public knowledge, all that goes on,” Mickelson said. “But the players don’t have access to their own media. If the tour wanted to end any threat [from Saudi or anywhere else], they could just hand back the media rights to the players. But they would rather throw $25 million here and $40 million there than give back the roughly $20 billion in digital assets they control. Or give up access to the $50-plus million they make every year on their own media channel.”
Click to expand...

This is a very important note. Nothing really changed.

Just_Brad said:
I really don't know what to think about this. Ignore the fact that all this money just magically appears and is available.

Hopefully throwing money at it isn't the extent of the changes to the tour. It seems like the easy thing to do, and they could/should have done it sooner.
Click to expand...

They have been planning this for over a year and probably longer, so I don't think the money just magically appeared. It is a mystery as to why they were reactive rather than proactive though. That was not very smart and makes it look bad.
 
Interesting all of a sudden millions of dollars have been found.

what a joke.
 
mikeg_74 said:
not speaking for Danny, but my guess is this comes across a bit duplicitous, since their stance this whole time was "The tour is more about the money, we have legacy and offer something no other tour can"

while some of that might be true, the moral stance and money part holds no water anymore.
Click to expand...

Yes, in addition to legacy and being able to tee it up against the best in the world, the Commissioner brought the specter of 9/11 into play. And the media including arguably some of the most powerful in the country went along with him. "The bone saw tour" was how one opinion article referred to LIV. It only took Monahan less than10 days from his interview with Jim Nantz to admit that it really is about money.
 
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