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Volvo PGA Gets Record Purse

The 2003 Volvo PGA Championship will have a record purse of 3.5 million euros ($3,843,349) with the winner receiving 583,330 euros ($640,521), it was announced Monday
The $359,847 increase over the 2002 prize fund continues the upward trend which has seen the Volvo PGA Championship grow steadily since the inaugural Volvo-sponsored Championship in 1988, when Ian Woosnam collected $76,867 from a total prize fund of 420,000 euros ($461,434).
This year, the player finishing in 10th position will receive a sum equal to the Welshman's first prize on that occasion, while the top seven players at Wentworth Club will all earn six-figure checks.
'This is another significant chapter in the tour's special relationship with Volvo,' said Ken Schofield, executive director of the European Tour. 'The extension of the contract with Volvo through to the 50th playing of this great Championship in 2004, with a prize fund worth 3.5 million euros for 2003, will further enhance the status of the Championship as the Tour's flagship event.'