LPGA Tour Championship to offer increased prize purse as part of CME Group renewal: Total prize purse rises to US$11m, with winner to get record US$4m.
The Ladies Professional Golf Association (LPGA) has signed a two-year title sponsorship extension with financial firm CME Group for the Tour Championship, which will offer an increased prize purse.
Contract:
- Season-ending event to continue to be known as the CME Group Tour Championship through to 2025
- Total prize purse rises to US$11 million
- Winner to receive record US$4 million, with the runner-up taking home US$1 million
- Enhanced purse distribution formula will see every competitor who qualifies for the 60-golfer field be awarded at least US$55,000
- CME Group to also continue sponsoring the Race to the CME Globe season-long points competition
Context:
CME Group has partnered with the LPGA since 2011 and last extended its deal in 2017. The US$11 million pot sees the tournament join the US Women’s Open in having the largest purse in LPGA Tour history. The purse is also higher than many events on the men’s PGA Tour, excluding the majors and elevated events.
Comment:
“This partnership extension with CME Group is extremely important and underscores the growth and strength of the LPGA,” said LPGA commissioner Mollie Marcoux Samaan.
“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. We are also inspired and proud of the company’s support of St Jude Children’s Research Hospital throughout the season and at the CME Group Tour Championship.”
SOURCE: https://www.sportspromedia.com/news/lpga-cme-group-tour-championship-prize-money-purse/