On Tuesday the Korn Ferry Tour announced it would significantly increase its purses over the next two seasons.
How significant, you ask? Each event will feature a purse of at least $1 million by 2023.
The minimum figure for Korn Ferry Tour regular-season purses will increase by $150,000 to $750,000 in 2022. In 2023, the minimum will rise another $250,000 to $1 million, a 66.7 percent increase over two years.
The 2021 Pinnacle Bank Championship, the tour’s regular season finale at The Club at Indian Creek in Omaha, Nebraska, will see its purse increase by $100,000 to $850,000 in 2022 and another $400,000 to $1.25 million in 2023, another 66.7 percent increase.
Each of the three events in the Korn Ferry Tour Finals currently features a $1 million purse this season. In 2023, the purse for all three will increase to $1.5 million.
“The Korn Ferry Tour continues to play a massive role in delivering a pipeline of future stars to the PGA Tour on a consistent basis. Today’s announcement is another step in ensuring the Tour will continue to attract the best young talent while providing higher-quality playing opportunities for the entire membership,” said Korn Ferry Tour President Alex Baldwin.
The purse increases were originally planned for 2021 after being approved by the Policy Board at the March 2020 meeting, but were delayed due to the COVID-19 pandemic.