SEA ISLAND, Ga. – PGA Tour commissioner Tim Finchem and PGA of America president Ted Bishop spoke Wednesday at a news conference and both announced significant purse increases for their organization’s marquee event.
When the PGA Championship heads to Valhalla Golf Club in August, players will compete for $10 million in prize money. The change represents a 25 percent increase over this year’s event when Jason Dufner took home $1,445,000 from an $8 million purse.
“This is a major purse increase for the PGA Championship,” Bishop explained. “With today’s announcement, we’re certainly excited that the PGA Championship features the highest purse among the four major championships.”
Finchem announced that the purse for The Players Championship will also increase to $10 million for 2014. This marks an increase of $500,000 from 2013, when Tiger Woods earned $1,710,000 from a $9.5 million purse for winning his second career Players title.
“For years and years, The Players Championship has been the No. 1 purse in golf. We like that designation,” Finchem said. “I’m happy to announce that we will be at $10 million – maybe $10 million and 1 – next spring.”
The two organizations also announced an increased commitment to working together to grow the game, one that will include increased public service announcements across various PGA Tour media platforms as well as a greater presence of PGA professionals on-site at various PGA Tour events to offer instruction and information to fans.