U.S. Open prize money unlikely to
soar says USGA CEO Davis
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[March 02, 2020]
By Andrew Both
PINEHURST, N.C. (Reuters) - This year's
U.S. Open purse is unlikely to jump dramatically from last year's
figure of $12.5 million, U.S. Golf Association (USGA) CEO Mike Davis
has said.
The association estimates that the U.S. Open costs about $80 million
to stage and generates revenue of some $165 million, about 75% of
the body's annual revenue.
Davis said 100% of the non-profit USGA's revenue is invested back
into the game and the Open's profitability allows it to provide
funds for a myriad of programs that benefit the game.
"Virtually everything we do loses money," Davis said after
Saturday's USGA annual meeting, where the body unveiled its new
brand slogan: 'From Many, One'.
The slogan refers to the thousands of players who enter U.S. Open
qualifying each year before the number is eventually whittled down
to the champion.
The four men's majors -- Masters, PGA Championship, U.S. Open and
British Open – generally raise their purses incrementally to keep
pace with the PGA Tour's flagship event, the Players Championship,
which next week will offer a record purse of $15 million.
Davis would not say whether the purse for this year’s U.S. Open at
Winged Foot in June would be at least $15 million, stating that the
figure would be decided closer to the event.
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Gary Woodland hoists the trophy after the final round of the 2019
U.S. Open golf tournament at Pebble Beach Golf Links. Mandatory
Credit: Kyle Terada-USA TODAY Sports/File Photo
But he said it was fair to be asked why the USGA did not
differentiate itself by raising its purse to $20 or $30 million.
"For every million dollars, that's a million dollars we can't put
into funding for (other areas)," he said, citing junior programs,
research grants and a new championship for disabled golfers, among
other things.
"We realize we have to be in the market where we're competitive with
purses, so it's a balance and I'm not sure there's ever a right or
wrong.
"We only have so much money. If we went to $30 million, we're going
to have to stop doing (other things). Is that the best thing for the
game of golf?"
(Reporting by Andrew Both; editing by Ken Ferris)
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