Some of the best golfers in the world will descend on the Old Course at St Andrews this weekend as the 150th edition of The Open Championship gets underway.
With last year’s champion Collin Morikawa and recent U.S. Open champion Matt Fitzpatrick amongst the field, the stage is set for more drama in the latest golf major.
On top of that, this year organisers have also made significant changes to the prize money totals that players will take home from The Open.
With a 22% increase in the overall prize fund compared to last year’s event at Royal St George’s in Kent, organisers R&A have seriously put their money where their mouth is, especially after the emergence of the breakaway LIV golf tour earlier this year.
Open Championship 2022 prize money: What is the total fund?
As mentioned before, organisers of The Open have this year increased the total prize fund by 22% to just over £11.6 million ($14 million) overall – a record amount for the tournament.
Martin Slumbers, chief executive of the R&A explained: “We have increased the prize fund by 22 per cent which means that the prize money has increased by more than 60 per cent since 2016.”
Before adding: “We have made this substantial investment while balancing our wider commitments to developing golf at all levels around the world and to continuing to elevate the AIG Women’s Open.”
How much does the Open Championship 2022 winner receive?
In line with the overall increase in prize money that will be shared amongst the players at the 2022 Open Championship, the amount the winner will receive has risen.
This year, the winner will take home a record breaking £2.1million ($2.5million).
For reference, that figure has gone up drastically from the £1.6million ($2million) winning prize tally that Morikawa took home last year.
Compared to other major golfing events, The Open currently sits in sixth position in terms of biggest pay out for its champion in 2022 with the FedEx St. Jude Championship, the BMW Championship, The PGA Championship, the Masters, the Players Championship and the newly-formed LIV Golf Invitational all paying more.
What is the prize money breakdown for Open Championship 2022?
The amount then decreases all the way to 70th place who would take home £26,750 ($32,200) after making the cut.
Those players who miss the cut entirely are also paid varying amounts of money depending on their performance throughout the opening two rounds of play.
If you’re wondering how that compares to the new Saudi-backed Golf LIV purses then look no further.
LIV Golf Series tournament purses 2022
The total purse for each LIV Golf Invitational Series tournament is $25 million (£20 million). Of that $25 million, $5 million will be awarded to teams while $20 million will go to the individual players.
The Team Championship, which will take place during the eighth and final series event of the season, will dish out an additional $50 million.
For comparison, the Masters and PGA Championship, two crown jewels of the the PGA calendar, had purses of $15 million apiece in 2022.
The winner of each LIV Golf tournament is expected to take home $4 million — 16% of the total purse. Second place will pay out $2.125 million, while the third-place golfer will bring in $1.5 million.