Professional golf can be a very rewarding career for the very select few that are good enough to play on the Tour. Before I get ahead of myself, The "PGA Tour" describes all active professional golfers and is short for the Professional Golfers Association Tour. Players earn money based on their performances in Tour tournaments. The higher a player finishes, the more money they will earn. With that being said, there are tournaments that have more money to distribute than others, these high-end tournaments are known as "Majors."
Now that we know the basics, lets dive into the formulas used and look at the statistics. Before each tournament, a purse will be set. The majority of the money in the purse comes from television networks that broadcast the event. The remainder of the purse come from a variety of sponsors. The PGA Tour awards 18% of a tournament's purse to the winner. Starting with second place and moving down to fifth place, the following percentages are awarded: 10.8, 6.8, 4.8, 4, and 3.6. That is the basic formula used by the PGA Tour when dividing prize money.
For this example, lets say the purse of this event is $5 million. Allocating 18 percent to the winner would give him $900,000. Not a bad weekend! So we know how the money is distributed to the top golfers but it is very common for multiple golfers to shoot the same score in a tournament so then what happens? The money is then divided among them. If three players tie for third place, the percentages from third place to fifth place will be added (6.8 + 4.8 + 4 = 15.6.) Then divide by the number of golfers who tied for that position (15.6 / 3 = 5.2.) Each golfer tied for third will be awarded 5.2 percent of the $5 million purse. In this case it is $260,000 per golfer.
By: Matt Gilreath
Now that we know the basics, lets dive into the formulas used and look at the statistics. Before each tournament, a purse will be set. The majority of the money in the purse comes from television networks that broadcast the event. The remainder of the purse come from a variety of sponsors. The PGA Tour awards 18% of a tournament's purse to the winner. Starting with second place and moving down to fifth place, the following percentages are awarded: 10.8, 6.8, 4.8, 4, and 3.6. That is the basic formula used by the PGA Tour when dividing prize money.
For this example, lets say the purse of this event is $5 million. Allocating 18 percent to the winner would give him $900,000. Not a bad weekend! So we know how the money is distributed to the top golfers but it is very common for multiple golfers to shoot the same score in a tournament so then what happens? The money is then divided among them. If three players tie for third place, the percentages from third place to fifth place will be added (6.8 + 4.8 + 4 = 15.6.) Then divide by the number of golfers who tied for that position (15.6 / 3 = 5.2.) Each golfer tied for third will be awarded 5.2 percent of the $5 million purse. In this case it is $260,000 per golfer.
By: Matt Gilreath
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