August 15, 2022

News and Update

PGA Tour to Add Extra $20 Million Tournaments in 2023 as Effort In opposition to LIV Golf, Report

The PGA Tour has responded – numerous instances and in a wide range of methods – to the rising LIV Golf match. Their newest counter to LIV that takes away some stars and massive winners a number of instances is a reported plan so as to add a large drop to the annual calendar with roughly $20 million particular person wallets. la to win among the many prime 50 gamers from final season.

In keeping with Golfweek, the PGA Tour will seemingly embrace present scheduled occasions with three tournaments that may increase $60 million within the fall. They’ll characteristic 50 golfers who’ve certified for the BMW Championship, the second of three FedEx Cup Playoff tournaments, and are unfold throughout Asia, Europe and the Center East.

One other proposed change can be that solely 70 golfers (down from 125) qualify for the primary FedEx Cup Playoff occasion, the St. Jude. Solely these 70 will probably be assured a PGA Tour go for the following season, which can return to being held for a calendar yr beginning January 2024.

Moreover, the purses of eight completely different occasions have been elevated, a lot of which have practically doubled, with the most important particular person purse in golf now with The Gamers Championship, which has elevated from $20 million to 25 million {dollars}.

Golf channel

The addition of the three occasions will successfully create tournaments just like the World Golf Championship occasions, which have been constructed 20 years in the past. It will likely be tougher to get in as they’re restricted to final season’s prime 50 gamers, however the impact is identical. It’s a direct money rebuttal to LIV Golf, which is planning double-digit $25 million tournaments subsequent yr ($20 million for people, $5 million for tournaments). groups).

What’s fascinating is how a lot cash is being swirled round right here. The one occasion on the PGA Tour at present akin to this purse dimension is the Gamers Championship, which distributes $20 million. The most important championship pockets proper now’s the US Open, which simply pumped up $17.5 million at Brookline.

The opposite attention-grabbing a part of this improvement is how the participant response will probably be. A part of the attract of LIV Golf is that golfers can play fewer occasions with extra assured cash within the type of a contract. It doesn’t matter the place Dustin Johnson and Bryson DeChambeau find yourself at LIV Golf occasions as a result of they each receives a commission. This transfer by the PGA Tour will seemingly see stars play extra tournaments than they’ve performed with no contractual ensures in any respect.

It’s clear that golfers need assured cash, as Patrick Cantlay introduced Tuesday on the Guests’ Championship.

“I undoubtedly assume that might be helpful,” Cantlay stated. “I believe proper now there’s a expertise contest occurring and I believe you see it in all different companies. You’ve seen it in different skilled sports activities occasionally. A part of it. of concern shouldn’t be figuring out what the long run holds.It’s an unsure time for golf proper now, but when you consider it within the bigger enterprise context it’s a sport. So if the PGA Tour needs to proceed to be the preeminent match for skilled golfers, it must be one of the best place to play for one of the best gamers on the earth.”

Nonetheless, these further occasions are most likely not even what the highest gamers declare.

“I believe there are sufficient applications that profit the highest gamers proper now, the PIP program, the Comcast High-10, the FedExCup rewards, all of that’s designed to take the lead,” stated Rory McIlroy. more cash within the pockets of the highest gamers. on the Wells Fargo Championship final month. “You play one of the best and the ice cream comes out on prime on the finish of the yr. That’s why the Comcast High-10, FedExCup bonuses are so excessive. And then you definately add PIP to it for the individuals who make plenty of it. cash impacts the Tour.”

Now, prime gamers might have so as to add to their schedule to construct wealth in the course of the common season. A part of the explanation for that is that the PGA Tour is a 501c(6) group, which suggests it’s tax-exempt and subsequently has to get inventive with the way it pays its members (i.e. creates plenty of extra favorable situations for the participant as a substitute of guaranteeing the contract).

This new three-league match within the match intro is a part of that, and it ought to not less than assist deal with one of the best gamers when it comes to cash (particularly if in addition they improve their present 5 wallets to $20 million). la), which the PGA Tour believes can have the potential to quell the inflow of gamers to LIV Golf.

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