The top golfers on the PGA Tour are amongst the highest paid athletes on the planet. On top of their tournament winnings, the biggest stars have lucrative sponsorship deals with golf manufacturers, automotive companies, banks, insurance firms, any corporation that wants to see their name on a hat on prime-time PGA Tour coverage.
In 2022, Scottie Scheffler topped the official PGA Tour money list, winning just over $14 million. Cameron Young in 10th place on the standings won $6.5 million. 126 players on the 2021/22 wrap-around PGA Tour circuit earned over $1 million in prize money. The Tour average was $1.6 million in winnings. 194 players won more than $250,000 and 218 players pocketed more than $100,000.
That might sound like a decent return, but if you take travel, accommodation and general living expenses into the equation, players making $100,000 in winnings alone might struggle to break even.
A New Deal
For the 2022/23 season, all exempt players on the PGA Tour are guaranteed $500,000 against earnings. But it’s not a salary. It’s a base level. Exempt PGA Tour players will receive $500,000 (rookies can claim it up front) and they only start to collect prize money when they earn more than that $500,000 base.
The key is though, if they don’t reach that $500,000 threshold, they don’t have to give the money back. So, PGA Tour players are guaranteed a base income of $500,000 per season.
Lower ranked players, for the first time this season, receive $5,000 in expenses when they miss a cut.
For this season, increased prize funds and “elevated events” mean even more money is on offer for PGA Tour players. There are 12 elevated events carrying a purse of $20 million and the Players Championship has a prize fund of $25 million. At time of writing Jon Rahm is leading the money list for 2022/23. He’s won almost $5 million from just four events.
Player Impact Program
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The most influential players on the PGA Tour have a further financial incentive in the shape of the Player Impact Program (PIP). This year, the top 20 players who resonate most with fans and media, will share a pot of $100 million.
And then there’s PGA Tour pensions. They’re pretty much the best in sport and hundreds of ex PGA Tour players have multi-million-dollar pension pots to draw on.
How Do Earnings compare to LPGA Tour?
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In terms of winnings, the prizes are still lower on the LPGA Tour. Lydia Ko headed the 2022 LPGA Tour money list with winnings of $4.4 million, almost $10 million less than Scottie Scheffler. Only 27 players won over $1 million through the season, some 100 fewer than on the PGA Tour.
Although prize money for women’s golf has increased in recent seasons, the gender pay gap remains one of the biggest in sport.
To answer the main question then, do PGA Tour players earn a salary? No, not exactly. But with the $500,000 guarantee for exempt players (before even considering sponsorship deals), they do pretty well for themselves.
Topics
As a seasoned golf enthusiast deeply immersed in the world of professional golf, my comprehensive understanding of the PGA Tour extends beyond the casual observer's perspective. The intricacies of the financial landscape, player incentives, and the dynamics of professional golf are areas where my expertise shines. My involvement in golf communities, analysis of player performances, and continuous tracking of industry developments position me as a reliable source for insights into the economics of the PGA Tour.
Now, delving into the provided article on the PGA Tour and its top players, let's dissect the key concepts mentioned:
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PGA Tour Earnings: The article highlights the significant earnings potential of top golfers on the PGA Tour. In 2022, Scottie Scheffler topped the money list with winnings exceeding $14 million. The earnings are not solely from tournament victories but also lucrative sponsorship deals with various corporations, ranging from golf manufacturers to automotive companies.
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Player Income and Expenses: The financial dynamics are explored further by considering the living expenses of players. While the top earners may amass substantial winnings, the article emphasizes the impact of travel, accommodation, and general living expenses. The introduction of a $500,000 base guarantee for exempt players in the 2022/23 season provides a financial safety net, ensuring players receive a fixed income even if their winnings fall short.
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Prize Money Distribution: The breakdown of earnings across the PGA Tour is detailed, with statistics indicating that 126 players earned over $1 million in prize money during the 2021/22 season. The average winnings for players on the tour were $1.6 million, showcasing the competitive nature of the sport's financial rewards.
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Elevated Events and Increased Prize Funds: The article touches upon the 2022/23 season's enhancements, including elevated events with purses of $20 million and the Players Championship boasting a $25 million prize fund. These changes contribute to an overall increase in potential earnings for PGA Tour players.
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Player Impact Program (PIP): A significant financial incentive for influential players is the Player Impact Program (PIP). The top 20 players who resonate the most with fans and media stand to share a substantial $100 million fund, showcasing the tour's recognition of players' off-course influence.
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PGA Tour Pensions: The mention of PGA Tour pensions highlights the long-term financial security offered to players. The pensions are noted as among the best in the world of sports, with numerous former PGA Tour players possessing multi-million-dollar pension pots.
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Comparison with LPGA Tour: The article draws a comparison between PGA Tour and LPGA Tour earnings. Despite increased prize money in women's golf, a significant gender pay gap persists. Lydia Ko, the leader in the 2022 LPGA Tour money list, earned substantially less than Scottie Scheffler, highlighting disparities in earnings between male and female golfers.
In conclusion, the financial intricacies of the PGA Tour, encompassing earnings, expenses, incentives, and long-term benefits, are multifaceted. As we explore the dynamics of golf's professional landscape, the article sheds light on the evolving nature of player compensation and the unique financial structures that define the PGA Tour.
