PGA Tour Increases Prize Money to Record $415M for 44-Tournament 2022-23 Schedule
Rob Goldberg@@TheRobGoldberg
Featured Columnist IVAugust 1, 2022
The PGA Tour announced its schedule for the 2022-23 season Monday, featuring increased prize money to help compete with the growing LIV Golf series.
The schedule features 44 regular-season events, including the four majors, with a record $415 million in prize money, as well as $145 million in bonuses. Three FedEx Cup playoff events will award $75 million in prize money.
The changes come after several notable golfers, including Dustin Johnson, Brooks Koepka and Phil Mickelson, left the PGA Tour to join LIV Golf. The new organization is backed by the Saudi Arabia Public Investment Fund and features $405 million in prize money for the 14-event 2023 season.
Henrik Stenson earned $4 million for his win at the LIV Golf Invitational Bedminster on Sunday, adding $375,000 from his team's second-place finish.
Tony Finau took home $1.5 million this weekend from his win in the PGA Tour's Rocket Mortgage Classic.
In addition to the large prize pools, LIV Golf offers players guaranteed money with three-round tournaments and no cuts. The PGA Tour announced the addition of an international series starting in the fall of 2023 that will also include limited fields and no cuts.
The PGA Tour will also move back to a calendar-year schedule starting in 2024, meaning official events for the FedEx Cup championship won't begin until January. The 2022-23 season will be the last one with a wraparound schedule with tournaments that start as early as September.
PGA Tour Commissioner Jay Monahan explained the changes in a statement:
"We've heard from our fans and the overwhelming sentiment was that they wanted more consequences for both the FedEx Cup regular season and the playoffs, and to further strengthen events that traditionally feature top players competing head-to-head. We feel strongly we've accomplished all of these objectives and more, creating a cadence of compelling drama for every tournament throughout the season."
Schlabach previously reported the PGA Tour's planned changes in June after Monahan met with members ahead of the Travelers Championship.
Despite several high-profile departures from the PGA Tour, most of the top players in the world remain with the organization and are scheduled to compete in the upcoming FedEx Cup playoffs, including Scottie Scheffler, Rory McIlroy and Cameron Smith.