Masters Tournament Swings into Record-Breaking Prize Money

The Masters Tournament has increased its prize money to $21 million this year, with a $4.2 million award for the winner who also receives the iconic green jacket. Prize purses across major golf tournaments have steadily risen over recent years, with significant increases at events like the Players Championship.

The Masters Tournament has elevated its prize money by a staggering $1 million this year, bringing the total purse to an unprecedented $21 million. This year's winner will not only take home $4.2 million but also the highly coveted green jacket, symbolizing victory at one of golf's most prestigious competitions.

Last year, the Masters champion Scottie Scheffler claimed $3.6 million. Currently, even the 50th place finisher takes home $52,920, with smaller amounts for those slightly lower on the leaderboard who still made the cut. In a nod to inclusivity, professionals who miss the cut receive $25,000, overshadowing the U.S. Open's $10,000 consolation prize.

This practice of increasing purses isn't new but reflects a growing trend across golf tournaments, exemplified ten years ago when Jordan Spieth netted $1.8 million from a $10 million prize fund for his Masters triumph. The Players Championship leads with a $25 million prize pool, and last month Rory McIlroy earned $4.5 million there. Next week, the PGA Tour moves to the RBC Heritage in South Carolina, featuring a $20 million purse as a signature event.

(With inputs from agencies.)