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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.[citation needed]
Finally, two events held in Asia after the end of the PGA Tour's current regular season – the CIMB Classic in Malaysia and the HSBC Champions, a World Golf Championships event held in China – became full PGA Tour events, with official prize money, for the first time. Before 2013, neither event had full PGA Tour status despite being sanctioned by the Tour. Wins in the CIMB Classic were not classified as official PGA Tour wins, and HSBC Champions victories were official wins only for current PGA Tour members. Money earned in these events did not count as official PGA Tour earnings for any purpose.
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.[citation needed]
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.[citation needed]
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.[22][23] He was succeeded by tour player Deane Beman in early 1974,[24] who served for twenty years. The name officially changed to the "PGA Tour" in 1975.[25] Beman was succeeded by commissioner Tim Finchem in June 1994. On January 1, 2017, Jay Monahan succeeded Finchem as commissioner.[26]
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The PGA Tour places a strong emphasis on charity fundraising, usually on behalf of local charities in cities where events are staged. With the exception of a few older events, PGA Tour rules require all Tour events to be non-profit; the Tour itself is also a non-profit company. In 2005, it started a campaign to push its all-time fundraising tally past one billion dollars ("Drive to a Billion"), and it reached that mark one week before the end of the season. However, monies raised for charities derive from the tournaments' positive revenues (if any), and not any actual monetary donation from the PGA Tour, whose purse monies and expenses are guaranteed. The number of charities which receive benefits from PGA Tour, PGA Tour Champions and Korn Ferry Tour events is estimated at over 2,000. In 2009, the total raised for charity was some $108 million.[38] The organization announced to have generated $180 million for charities in 2017 through the tournaments of its six tours.[39]
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.[citation needed]
The PGA Tour's broadcast television rights are held by CBS Sports and NBC Sports, under contracts most recently renewed in 2011 to last through 2021. While it considered invoking an option to opt out of its broadcast television contracts in 2017, the PGA Tour ultimately decided against doing so. Golf Channel (which, since the acquisition of NBC Universal by Golf Channel owner Comcast, is a division of NBC Sports) has served as the pay television rightsholder of the PGA Tour since 2007, and its current contract will also expire in 2021. Under the contracts, CBS broadcasts weekend coverage for an average of 20 events per-season, and NBC broadcasts weekend coverage for an average of 10 events per-season. Golf Channel broadcasts early-round and weekend morning coverage of all events, as well as weekend coverage of events not broadcast on terrestrial television, and primetime encores of all events.[40][41][42] Tournaments typically featured in NBC's package include marquee events such as The Players Championship, the final three tournaments of the FedEx Cup Playoffs, and the biennial Presidents Cup event. The 2011 contract granted more extensive digital rights, as well as the ability for NBC to broadcast supplemental coverage of events on Golf Channel during its broadcast windows.[43] On December 16, 2019, it was reported that the PGA Tour had reached an agreement in principle to renew its existing contracts with CBS and NBC through 2030, maintaining the existing broadcast arrangements, but with coverage of the final three playoff tournaments alternating annually between CBS and NBC (rather than having them exclusive to NBC).[44]
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.
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