The rich will get richer on the PGA Tour.
Player rewards will see a massive increase in 2022, with prize money in limited field events boosting significantly, Golf Week can reveal.
The round’s most lucrative cash acquisition — the FedEx Cup bonus total — will bring more cash to top players, jumping to $75 million from $60 million last season. A source familiar with the changes confirmed that the next FedEx Cup champion will receive $18 million. Patrick Cantlay won $15 million for his victory in August.
Other reward schemes designed to reward elite players will also see sharp increases in the year 22. The controversial Player Impact program that revealed its existence Golf Week In April, it grows to $50 million from $40 million. PIP uses a variety of metrics to determine which players are most attractive to fan engagement and in its first year will award the most influential player $8 million.
Comcast’s Top 10 Business Tour — which rewards top-performing players at the end of the regular season and before the FedEx Cup playoffs — will double their fortunes to $20 million. The tour has also created a new reward scheme that benefits most members. The Play15 program awards $50,000 to each player who starts at least 15 times.
Details of the increased rewards and wallets were spelled out in a note sent to players Monday afternoon by PGA Tour Commissioner Jay Monahan, a copy of which was obtained by Golf Week. A spokesperson for the tour confirmed the memo’s authenticity but declined to comment further until it was reviewed by members.
Monahan’s memo identifies events that will see an increase in prize funding, all of which are limited field tournaments that typically attract golf stars. Prize money in the first two playoff events – FedEx St. Jude Invitational and BMW Championship – jump from $11.5 million to $15 million.
The player’s three stops will also see gains. The Genesis Invitational Tournament (hosted by Tiger Woods), Arnold Palmer Invitational and Jack Nicklaus Memorial Tournament will pay $12 million against the previous $10.5 million. The World Golf Championship will also increase to $12 million. Only one WGC event is on the 2021-2022 schedule, Dell Technologies Match Play, after last month’s HSBC Champions stoppage in China was called off.
All six events have previously announced cash increases since last season, even before this latest boost. The player-hosted prize pool was $9.3 million in 2021, the WGC events were worth $10.5 million, and the two FedEx Cup Playoffs paid out $9.5 million.
The Players Championship remains the richest stop on the tour schedule with a stake of $20 million.
“The financial rewards and other benefits – not just for the top players but for the entire membership – are growing at an extraordinary pace,” Monahan wrote.
The increase in prize money and player rewards – mostly aimed at the upper tier of superstars – will appear as a direct response from the Tour to the Super Golf League, a concept that has attempted to sign players with promises of guaranteed money and signing bonuses that are funded by the Saudi regime. last week, Golf Week It revealed that the PGA Tour plans to create a series of international tournaments that offer the same players money-guaranteed – another apparent attempt to defuse the SGL threat.
Monahan did not mention the proposed competition round in his memo to members.
The commissioner was doing his best to dispel a claim promoted by SGL supporters that Tour players receive only 26 percent of revenue. Phil Mickelson reiterated this number in a recent podcast with Gary Williams. Monahan wrote in bold and square shaded: “This is the key number you need to know: 55%. Fifty-five percent of tour proceeds will be returned to players in 2022.”
His letter goes on to outline detailed financial statements in an effort to counter the SGL’s talking point. He wrote: “There appears to be a misunderstanding not only about the overall earnings level of the players, but our financial model in general.” “It is important that you fully understand and be transparent about our business, this is your tour.”
The memo outlines expected combined revenue of $1.522 billion for 2022, 85 percent of which will come from sponsors and a new media rights agreement for the tour, which takes effect in January. After explaining the $716 million in operating expenses, the commissioner added that drawing $32 million into reserve funds to increase prize money means there will be a total of $838 million allocated to players.
Of that, $685 million comes in the form of comprehensive earnings, which the round defined as prize money, bonus programs, and contributions to health care and pension plans. The other $153 million comes from official business partners – mainly equipment and apparel companies – whose deals with the tour require that they spend guaranteed amounts directly with the players in the form of endorsements. Monahan wrote that his goal is to see this source of money double in the next two years.
“We are in a position to grow faster in the next ten years than ever before in our existence,” Monahan assured members in an enthusiastic summary. “We remain focused on strengthening our core product and investing in our members.”
.