‘Pan Kiun’ European Tour "DP World Tour Launching Next Year with Total Prize Money of 237.8 Billion KRW"

Dubai-based logistics company DP World becomes overall title sponsor of the tour "Record-breaking total prize money and leap to at least 47 global tours"

Collin Morikawa is taking a commemorative photo after rising to first place in the 2021 season 'Race to Dubai' following his victory at the European Tour DP World Tour Championship. Dubai (United Arab Emirates) = Photo by Getty Images / Multibits

[Asia Economy Kim Hyunjun, Golf Specialist Reporter] "Total prize money $9 million → $20 million."

On the 22nd (Korean time), Collin Morikawa (USA), world ranking No. 2, topped the DP World Tour Championship with a total prize money of $9 million (10.72 billion KRW). This tournament is the final event of the 2021 European Tour season. The winner's prize is also $3 million (3.567 billion KRW), serving as a driving force to become the ‘European money leader.’ Next year, it is interesting that the amount will more than double to a whopping $20 million (23.782 billion KRW). The tour name will even change to DP World Tour.

DP World is a logistics company based in Dubai, United Arab Emirates (UAE). Leveraging the ‘oil dollar power,’ it has expanded its role as the overall sponsor of the tour. Attention should be paid to the ‘money feast’ amounting to $200 million (237.82 billion KRW). There are 47 tournaments in 27 countries, with a minimum prize money of $2 million (237.8 million KRW) set. Among the 47, 23 are held outside Europe. Tour CEO Keith Pelley proudly stated, "We have opened the era of a global tour while preserving the traditions of each European country."

The transformation of the European Tour started with the birth of the Premier Golf League (PGL), led by Saudi Arabia. From 2023, there will be 18 tournaments per season including 12 in the United States, with total prize money of $20 million per tournament and a winner's prize of $4 million (4.758 billion KRW). To compete with the PGA Tour and European Tour, massive funds must be poured in. This is similar to how the World Golf Championships (WGC) series initially increased prize money to attract big stars.

The European Tour will transform into the DP World Tour next year, with a total prize fund reaching an impressive 200 million dollars.

In fact, on the PGA Tour, only the four major championships and ‘the fifth major’ The Players Championship exceed $15 million next year. It is rumored that PGL has already contacted Dustin Johnson, Brooks Koepka, Phil Mickelson (all USA), and Justin Rose (England), guaranteeing annual earnings of $30 million (35.679 billion KRW). There are even rumors that Greg Norman (Australia) has been recruited as the inaugural commissioner. Norman previously attempted to create a new golf tour to rival the PGA Tour in the 1990s.

PGL has started to take over the Asian Professional Golf Tour. After the Saudi International, held last year as a European Tour event, was blocked by the US and European alliances, it moved to the Asian Golf Tour and quickly took the lead by investing huge funds to establish 10 new tournaments. Although it takes the form of the Asian Professional Golf Tour, the plan is to invite many top-ranked world players and use this as a foundation for PGL to establish itself in the future.

This is why the PGA Tour hurriedly increased The Players Championship total prize money from $15 million to $20 million next year. While strongly signaling a response by saying, "Players who participate in PGL will be permanently banned," it is also considering various incentives such as introducing a ‘Player Influence Index Program’ that distributes $50 million (59.465 billion KRW) among popular players. As PGL, PGA Tour, and DP World Tour enter a full-scale power struggle, players are expected to benefit financially.