The British Open is raising its prize fund by $500,000 to a total of $17 million, making it the smallest of the four major tournaments and 28th overall in men’s professional golf prizes. Retiring CEO of the R&A, Martin Slumbers, stated that this modest increase aligns with their goal of balancing the British Open’s global standing with the financial responsibilities of fostering amateur golf worldwide.

Driving the surge in golf purses is the Saudi-backed LIV Golf, which entered the scene in 2022 with $20 million purses for 48-man fields and a $4 million prize for the winner. This has prompted the PGA Tour to elevate its prize offerings, with 11 tournaments now boasting funds of $20 million or more this year. The U.S. Open leads with the largest purse at $21.5 million, followed by the Masters at $20 million, and the PGA Championship at $17.5 million.

Slumbers emphasized the R&A’s commitment to maintaining a balance between reward and long-term financial sustainability. He voiced concerns about the perception and future financial health of the sport amidst escalating prize money. Slumbers also remarked on his willingness to consider partnerships, including those with PIF, which funds the rival LIV league. Slumbers’ departure in September will make way for Mark Darbon, who brings extensive experience from his recent role as CEO of Northampton Saints and the London 2012 Olympics organizing committee.

(With inputs from agencies.)