The LPGA Tour Championship has unveiled record prize money for women golfers from 2024 after agreeing a new two-year deal with sponsor CME Group.
The US financial service’s company two-year title sponsorship agreement will increase the overall purse for the end-of-season event from $7million (£5.6m) to $11m (£8.85m).
Additionally, the prize for the winner will double from $2m (£1.6m) $4m (£3.2m) with the runner-up cashing in $1m (£800,000).
As part of an enhanced purse distribution formula, for the first time, every competitor who qualifies for the 60-golfer field will be awarded at least $55,000 (£44,250).
Terry Duffy, CME Group Chairman and Chief Executive Officer, said, “As a long-standing supporter of women in business and sports, CME Group is pleased to continue our partnership with the LPGA to further elevate women’s golf.
“Beginning next year, the CME Group Tour Championship’s $11m (38.85m) purse will be the highest on the LPGA Tour, and the $4m (£3.2m) first-place prize will be the largest single prize in women’s sports. Both of these developments will make our event even more exciting for the players and spectators, while bringing more parity to the game.”
Mollie Marcoux, Commissioner of the LPGA, added, “This partnership extension with CME Group is extremely important and underscores the growth and strength of the LPGA.
“CME Group has been pushing the LPGA forward at every step of our evolution since 2011 and with this extension they are once again helping take the LPGA, women’s golf and women’s sports to unprecedented heights. We are grateful for Terry Duffy and CME Group’s continued commitment to advancing opportunities for girls and women, on and off the golf course.”
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