Slumbers: “The Open’s profits are reinvested in golf”

R&A Martin Slumbers CEO

The British Open (hereinafter referred to as The Open), which opens in Scotland on the 18th (Korean time), is one of the four major golf tournaments, but the prize money is not that much.

This year’s Open total prize money has increased by $500,000 from last year to $17 million (about 23.5 billion won), but it is still less than the other three major tournaments (Masters, PGA Championship, and U.S. Open).

According to the Associated Press, there are 11 tournaments on the PGA Tour that pay more than The Open, and 13 LIV Golf tournaments that pay a combined $20 million.

In terms of total prize money, The Open ranks 28th.

Martin Slumbers, CEO of the R&A, which hosts the Open, said at a press conference held at Royal Troon Golf Club, where the Open is held, on the 18th, “First, I didn’t know it was ranked 28th, and second, I don’t care.”

Slumbers, who is stepping down as CEO at the end of the year, said the increase in prize money this year was not to bring it in line with other majors, but rather to address inflation.

He argued that raising prize money for golf tournaments was not the point and that “the Open has been more than just a golf tournament.”

“The number of people playing golf in countries under the R&A’s jurisdiction has increased to 62.3 million,” Slumbers said. “This is a very encouraging figure and we must maintain this momentum.”

“For a sustainable business model, the fundamentals have to be strong,” he said, adding, “We reinvest all the profits from the Open back into golf.” 파워볼사이트