The prize pool has been announced for the 146th Open, with both the winner and runner-up clearing seven figures later this month at Royal Birkdale.
The actual dollar payout has been a bit of an inexact science in recent years because of exchange rate complications, but R&A chief executive Martin Slumbers announced Wednesday that the tournament will pay out in U.S. dollars later this month.
"We are operating in an increasingly global marketplace and have made the decision to award the prize fund in U.S. dollars in recognition of the fact that it is the most widely adopted currency for prize money in golf," Slumbers said.
The total purse for The Open will be $10.25 million, which is more than the purse at this year's Masters ($10 million) but below that of last month's U.S. Open ($12 million). It's also a notable increase from last year's purse, which equated to $8.45 million when converted from pounds into dollars.
The winner this year will receive $1.845 million and the runner-up $1.067 million, up from the $1.551 million and $891,000 that Henrik Stenson and Phil Mickelson earned, respectively, last year at Royal Troon.
Here's a look at the payout for the top 10 places at the tournament, which will be held July 20-23 in Southport, England: