• Loading stock data...
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.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

TV Companies Losing Subscribers As Sports Rights Deals Continue to Rise

Four major TV provider companies reported huge losses.

Border War Intensifies: Kansas Makes Swift Move to Lure Chiefs and Royals

A bipartisan supermajority of Kansas legislators approve bonding for new stadiums for the Chiefs and Royals.

U.S. Hosts Copa América: A Milestone in Soccer’s Oldest Tournament

The U.S. hosting of the tournament follows a larger partnership between two major soccer federations.
podcast thumbnail mobile
Front Office Sports Today

How Women’s Sports Media is Charting Its Own Path

0:00

Featured Today

Jan 3, 2022; Pittsburgh, Pennsylvania, USA; General view of the NFL shield logo signage before the Pittsburgh Steelers host the Cleveland Browns at Heinz Field.

Odds Stacked Against NFL in Multibillion-Dollar Sunday Ticket Trial

Why the class action trial does not look promising for the league.
Jan 7, 2024; San Francisco, California, USA; Toronto Raptors forward Jontay Porter (11) takes a three-point shot against the Golden State Warriors during the second half at Chase Center.
June 9, 2024

‘Bound to Happen’: The Age of the Sports Betting Scandal Has Arrived

A banishment, betting scheme, and guilty plea all in one scandal-filled span.
June 8, 2024

‘Experimental in Nature’: The Rapid, Confounding Rise of Streaming Bundles

Here’s why confusion continues to outweigh solutions in the streaming package boom.
June 2, 2024

The Nostalgia Market: Michael Jordan’s Memorabilia Remains Coveted, With Caveats

Due to scarcity, and sometimes, items’ undisclosed whereabouts, this world has limitations.

Clark vs. Reese: Priciest WNBA Game Set for Record-Breaking Viewership

Ticket pricing has already set a league record, while viewership expectations are lofty.
June 20, 2024

MLB’s Rickwood Game Plans Change Significantly After Passing of Mays

The special-event game at the historic Negro League park follows the death of the iconic Willie Mays.
June 20, 2024

Why Michael Johnson’s $30 Million Track League Won’t Have Any Safety Pins

The league also won’t have field events at all.
Sponsored

How HOKA is Reimagining the NIL Relationship

HOKA, the renowned athletic footwear and apparel brand, is betting on a new reality with NIL.
June 18, 2024

Caitlin Clark Continues to be Enormous Box Office for the WNBA

Sunday’s Fever-Sky game was the most-watched WNBA broadcast in 23 years.
June 18, 2024

Euro 2024 Kicks Off With Record Demand and Streaming Issues

Ten German cities are hosting matches this month.
June 18, 2024

MLB Attendance Continues to Trend Up in the Pitch Clock Era

The pitch clock has helped spike attendance numbers the past two seasons.
June 17, 2024

Spring Football’s Future: UFL’s Mixed Results, Ambitious Changes Ahead

“You really need deep pockets,” former XFL commissioner Oliver Luck tells ‘Front Office Sports.’