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Saturday, June 22, 2024

As FedEx Cup Playoffs Begin, PGA Tour Eyes Prize Money Boost

  • Next year's FedEx Cup champion will receive $25 million, up for $18 million this year.
  • Still to be determined is how and when LIV players will be allowed back on the PGA Tour.
Syndication: The Commercial Appeal

The 2023 FedEx Cup Playoffs begin on Thursday — with a total of $75 million on the line — but the PGA Tour is already looking at an even more lucrative 2024 season.

Next year’s schedule, which was released this week, will award the 2024 FedEx Cup champion $25 million, up from $18 million this year. The Comcast Business Tour Top 10 will shell out $40 million after the regular season — double 2023’s amount — including $8 million to the winner. 

In 2024, the Tour’s designated event model is being retooled to increase winners’ payouts to $4 million at three key tournaments: The Genesis Invitational (hosted by Tiger Woods), Arnold Palmer Invitational and Memorial Tournament (hosted by Jack Nicklaus). That represents 20% of those events’ purses, up from the 18% to be offered at what the Tour is calling its other five signature events, which carry $20 million purses apiece.

Waiting Game

Still to be determined is the impact of the Tour’s partnership with Saudi Arabia’s Public Investment Fund. On Wednesday, PGA Tour commissioner Jay Monahan said that the deal is on track to be completed by the end of the year.

“I really don’t think we’re going to see a big change until 2025,” Rob Mougey, the agent of U.S. Open champion Wyndham Clark, told Front Office Sports. “There are still so many unknowns. … What does 2024 look like for LIV? What everybody’s told is that it’s going to be the same as it was last year.”

Meanwhile, a key figure in the Tour’s operations — chief tournaments and competition officer Andy Pazder — surprisingly resigned this week, becoming the second major executive to step down in the wake of the Saudi deal, following policy board member Randall Stephenson, who resigned last month.

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