The Open set to have $17,000,000 purse as R&A announce biggest prize fund for final 2024 Major
There's a lot of money at stake at The Open Championship 2024. In fact, there's more money at stake for the 2024 Open than ever before. The R&A, the tournament's sponsors, just announced a major increase in the prize purse. Now, there's a total of $17 million up for grabs.
This is in keeping with the larger trend in golf. Prize purses are huge across the sport, partially due to LIV Golf's willingness to spend big and the resultant need for the PGA Tour to keep pace with the prize money awarded.
The winner of the Open will earn a record $3.1 million. The second-place finisher will earn $1.76 million, and the third-place player gets almost $1.13 million. That is still less than what winners of the other three Majors earn. It is also a slightly smaller payday than at some PGA Tour Signature Events. Nonetheless, it's a huge change for the Open.
US Open champion Bryson DeChambeau earned $4.3 million from a $21.5 million purse, while Masters champion Scottie Scheffler won $3.6 million of a $20 million purse. Meanwhile, Xander Schauffele earned $3.3 million at the PGA Championship, of the $18.5 million purse on offer.
R&A CEO Martin Slumbers addresses increase in The Open prize purse.
This is a big change for the Major, and one that has ramifications across the golf world now and in the future. R&A CEO Martin Slumbers said in a statement via ESPN:
"The R&A has a responsibility to strike a balance between maintaining The Open's position in the global game, providing the funds required for governance and developing amateur and recreational golf in 146 countries internationally. We have to make choices if we want to continue to build on the significant growth in participation that is essential for golf's future."
He added that the R&A remained concerned about the increases in prize money seen across the sport. It affects the perception of the sport and the financial stability in the long-term, and Slumbers and the R&A are determined to act within the global game's interest to ensure golf is still thriving decades from now.
The Open prize purse is up from last year, though not by a wide margin. Brian Harman, the victor last year, earned $3 million from a $16.5 million purse.