Official total prize money on the PGA Tour and the four majors will drop by nearly $4 million this year, marking the first year-over-year decrease since Gerald Ford was in the White House.
The 47 official money events on the 2009 schedule will award approximately $275 million this year, down from $279 million last year for 48 events. The last time purses dropped was from 1974 to 1975, when total prize money fell from $8.2 million to $7.9 million.
Not counting the four majors, whose prize money isn’t controlled by the PGA Tour, players will be awarded $245.8 million this year, down from $248.8 million in 2008. Average purses were flat.
Total prize money was expected to be flat or up slightly when the full schedule was announced late last year, but a title sponsor was not found for a new Fall Series tournament and there were purse decreases at three other events.
The British Open, as a result of the exchange rate, awarded $6.9 million this year, down from $8.6 million last year. Also, due to a drop in sponsor support, the AT&T National in Washington, D.C., and the St. Jude Classic in Memphis lowered their purses at the last minute by $200,000 and $500,000, respectively.
The PGA Tour had hoped to put a new event in Sea Island, Ga., but has been unable to find a title sponsor willing to foot the annual $4.5 million tab for a Fall Series event. A new World Golf Championship event in China was added to the 2009 schedule but does not award official money.
The purse levels also suffered from the loss of events in Atlanta and Orlando that opted not to return in 2009.
Purses are expected to be flat, or down moderately, in 2010.
