The Open raises its purse to $16.5 million, and the winner at Royal Liverpool next week will take home $3 million.
Prize money totaled $14 million a year ago. Cameron Smith, who won at St Andrews, earned $2.5 million.
The second and third place finishers at this year’s tournament will take home more than $1 million as well, taking home $1.708 million and $1.095 million, respectively.
Prize money has increased this year across all disciplines, with the US Open bringing in $20 million, most of it among the four Grand Slam events. Windham Clark earned $3.6 million for winning his first major title.
The Masters increased its purse to $18 million ($3.24 million to John Rahm) while the PGA Championship increased to $17.5 million ($3.15 million to Brooks Koepka).
“Our goal is to ensure The Open Golf Championship remains at the pinnacle of world golf and we have nearly doubled our prize fund since 2016,” R&A CEO Martin Slumbers said in a statement.
Slappers noted “significant increases” in prize money across golf, with the PGA Tour netting $20 million for its high-flying events and $25 million for the Players Championship. Saudi-funded LIV Golf offered $25m – $20m for the individual competition – last year.
The R&A Club has also raised prize money for the Ladies British Open, Slippers said, along with devoting more resources to elite amateur competitions and programs to increase participation in golf.
“We believe getting this balance right is vital to the long-term future of the sport,” he said.
Opening begins July 20th.
The Associated Press contributed to this report.