After several months, a compromise was reached in December: the tour players agreed to abolish the APG and form the PGA "Tournament Players Division," a fully autonomous division under the supervision of a new 10-member Tournament Policy Board. The board consisted of four tour players, three PGA of America executives, and three outside members, initially business executives.
Joseph Dey, the recently retired USGA executive director, was selected by the board as the tour's first commissioner in January 1969 and agreed to a five-year contract. He was succeeded by tour player Deane Beman in early 1974, who served for twenty years. The name officially changed to the "PGA Tour" in 1975. Beman was succeeded by commissioner Tim Finchem in June 1994. On January 1, 2017, Jay Monahan succeeded Finchem as commissioner.
The Tour continues through the fall, with the focus on the scramble of the less successful players to earn enough money to retain their tour cards. A circuit known as the Fall Series, originally with seven tournaments but now with four, was introduced in 2007. In its inaugural year, its events were held in seven consecutive weeks, starting the week after the Tour Championship. As was the case for the FedEx Cup playoff schedule, the Fall Series schedule was also tweaked in 2008 and 2009. The first 2008 Fall Series event was held opposite the Ryder Cup, and the Fall Series took a week off for the Tour Championship before continuing with its remaining six events.
Three of the four majors take place in eight weeks between June and August. In the past, this has threatened to make the last 2-1/2 months of the season anti-climactic, as some of the very top players competed less from that point on. In response, the PGA Tour has introduced a new format, the FedEx Cup. From January through mid-August players compete in "regular season" events and earn FedEx Cup points, in addition to prize money. At the end of the regular season, the top 125 FedEx Cup points winners are eligible to compete in the "playoffs", four events taking place from mid-August to mid-September. The field sizes for these events are reduced from 125 to 100 to 70 and finally the traditional 30 for the Tour Championship. Additional FedEx Cup points are earned in these events. At the end of the championship, the top point winner is the season champion. To put this new system into place, the PGA Tour has made significant changes to the traditional schedule.
Alternate: Events which are played in the same week as a higher status tournament (either a WGC or the Open Championship) and therefore have weakened fields and reduced prize money. They are often considered an opportunity for players who would not qualify for certain events due to their world rankings, positions on the FedEx Cup points list, or position on the Tour's priority list to move up more easily or have an easier attempt at a two-year exemption for winning a tournament. Because of their weaker fields, these events usually receive the minimum amount of world ranking points reserved for PGA Tour events (24 points) and fewer FedEx Cup points than most tournaments (300 points instead of 500). Alternate event winners also do not earn Masters invitations. Fields for alternate events have 132 players. These events have 12 unrestricted sponsor exemptions, four more than the regular events.
The PGA Tour is also covered extensively outside the United States. In the United Kingdom, Sky Sports was the main broadcaster of the tour for a number of years up to 2006. Setanta Sports won exclusive UK and Ireland rights for six years from 2007 for a reported cost of £103 million. The deal includes Champions Tour and the Nationwide Tour events, but like the U.S. television deals it does not include the major championships, and unlike the U.S. deal, it does not include the World Golf Championships. Setanta set up the Setanta Golf channel to present its coverage. On June 23, 2009, Setanta's UK arm went into administration and ceased broadcasting. Eurosport picked up the television rights for the remainder of the 2009 season. Sky Sports regained the TV rights with an eight-year deal from 2010 to 2017. In South Korea, SBS, which has been the tour's exclusive TV broadcaster in that country since the mid-1990s, agreed in 2009 to extend its contract with the PGA Tour through 2019. As a part of that deal, it became sponsor of the season's opening tournament, a winners-only event that was renamed the SBS Championship effective in 2010. In 2011 however, Korean automobile manufacturer Hyundai took over the title sponsorship, but SBS still remains a sponsor of the event.
The PGA Tour operates a streaming service known as PGA Tour Live, which carries early-round coverage of events preceding Golf Channel television coverage, including featured groups. The service is offered as a subscription basis, initially using BAMTech infrastructure, but moving to NBC Sports Gold in 2019 (adding featured holes coverage during Golf Channel's windows as well). Since 2017, following a pilot at the end of the 2016 season, portions of the PGA Tour Live coverage are also carried for free via the PGA Tour's Twitter account.
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Due to increases in prize funds over the years, this list consists entirely of current players. Two players on the list, Vijay Singh and Davis Love III, are eligible for PGA Tour Champions (having respectively turned 50 in February 2013 and April 2014). Both have lifetime exemptions on the PGA Tour for 20 wins and 15 years on the Tour, and Love has won a tournament on the main PGA Tour since turning 50. The figures are not the players' complete career prize money as they do not include FedEx Cup bonuses, winnings from unofficial money events, or earnings on other tours such as the European Tour. In addition, elite golfers often earn several times as much from endorsements and golf-related business interests as they do from prize money.
The 2019-20 PGA TOUR continues with The American Express. Phil Mickelson is back in action for the first time since November's WGC-HSBC Champions event, this time as the official tournament host. Hoping to stand in his way are Rickie Folwer, who returns to the California desert for the first time since 2014, and Francesco Molinari, who makes his 2020 debut. Also teeing it up in the star-studded field are International Presidents Cup team members Byeong Hun An, Abraham Ancer and Sungjae Im. With 500 FedEx Cup points up for grabs, who will come out on top?
Since 2013, 50 Korn Ferry Tour golfers earn privileges during the next PGA Tour season, which now begins the month after the Tour Finals. The top 25 money winners over the regular season (i.e., before the Tour Finals) receive PGA Tour cards, as do the top 25 money winners in the Finals. The priority position of all 50 golfers on the PGA Tour is based on money earned during the Tour Finals, except that the regular season money leader shares equal status with the Finals money leader. In addition, a golfer who wins three events on that tour in a calendar year earns a "performance promotion" (informally a "battlefield promotion") which garners PGA Tour privileges for the remainder of the year plus the following full season.
The WGC-HSBC Champions, traditionally held the week after the Malaysia tournament. Despite its elevation to World Golf Championships status in 2009, it initially was not an official-money event. Starting in 2010, if the event was won by a PGA Tour member, it counted as an official win and carried the three-year exemption of the other WGCs. Starting in 2013, the HSBC Champions became an official money event, and wins are official for Tour and non-Tour members alike.
Winning a PGA Tour event provides a tour card for a minimum of two years, with an extra year added for each additional win with a maximum of five years. Winning a World Golf Championships event, The Tour Championship, the Arnold Palmer Invitational, or the Memorial Tournament provides a three-year exemption. Winners of the major championships and The Players Championship earn a five-year exemption. Other types of exemptions include lifetime exemptions for players with twenty wins on the tour; one-time, one year exemptions for players in the top fifty on the career money earnings list who are not otherwise exempt; two-time, one year exemptions for players in the top twenty-five on the career money list; and medical exemptions for players who have been injured or are going through a family crisis, which give them an opportunity to regain their tour card after a period out of the tour. In 2015, the PGA Tour added a clause which would freeze an exemption for those required to perform military service in their native countries in response to South Korea's Bae Sang-moon having to leave the Tour for that reason. At the end of the season, the person leading the FedEx Cup earns a five-year exemption.
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PGA Tour players compete for two player of the year awards. The PGA Player of the Year award dates back to 1948 (originally named the PGA Golfer of the Year) and is awarded by the PGA of America. Since 1982 the winner has been selected using a points system with points awarded for wins, money list position and scoring average. The PGA Tour Player of the Year award, also known as the Jack Nicklaus Trophy, is administered by the PGA Tour and was introduced in 1990; the recipient is selected by the tour players by ballot, although the results are not released other than to say who has won. More often than not the same player wins both awards; in fact, as seen in the table below, the PGA and PGA Tour Players of the Year have been the same every year from 1992 through 2018.