“It's not what any of us do, it's fairly complicated” – Jordan Spieth says he’s seen both sides of players' reaction to Player Equity Program rollout
Jordan Spieth recently opened up about the Player Equity Program during a pre-tournament press conference at the 2024 CJ Cup Byron Nelson. The PGA Tour event is scheduled to begin on Thursday, May 2, and before the event, Spieth addressed the recent changes on the PGA Tour.
Last month, the PGA Tour unveiled its Player Equity Program, initially distributing grants of $930 million among the 193 players. The equity varies from player to player, based on their performance and time spent on the PGA Tour.
Jordan Spieth was asked in the press conference about players' reactions to the Player Equity Program rollout model. Spieth responded that some players reached out to him and expressed their happiness at receiving more money than expected. He added that he had heard both sides of the reactions to the program.
Speaking of the Player Equity Program, Spieth said (via TenGolf YouTube channel):
“I had a couple players call me and say, 'Wow.' I didn’t know, they were excited about what their grants [are]. They were excited it was more than they thought it was. I had conversations all the way back to even maybe just into the new year with some guys who missed out on it that would’ve made it other years. I heard both sides.” (8:00-8:28)
He added that as the model is confusing, the PGA Tour officials must sit down and explain it in detail to players who want to know more.
Jordan Spieth opined that the model was confusing, saying:
“It’s very confusing. It still is confusing for us players on when it’s vested, what’s the best idea for taxes, you know, we all have people for that. It’s not what any of us do, and it’s fairly complicated." (8:56:9:10)
The Player Equity Program is granted to players based on four categories. The first category is limited to the top 36, based on their performance in the last five years. These players will earn $750 million in equity.
The combined budget of the second and third group players is $105 million, with 121 players in these categories. The final group is reserved for the past legends of the PGA Tour, players who have contributed to the circuit's success over the years. Only 36 players in this category receive a $75 million equity share.
Jordan Spieth set to tee off at the 2024 CJ Cup Byron Nelson
The PGA Tour players will tee off at this week's CJ Cup Byron Nelson event, starting on Thursday, May 2.
Jordan Spieth will tee off at this week's event. He will start his game on Thursday at 8:45 a.m. ET with defending champion Jason Day and South Korean golfer Sungjae Im.
The group will tee off on the 10th hole. The tournament will have its finale on Sunday, May 5, at TPC Craig Ranch.