An organization called the PGA European Tour, separate from both the PGA Tour and the PGA of America, runs a tour, mostly in Europe, but with events throughout the world outside of North America, that is second only to the PGA Tour in worldwide prestige. Several other regional tours are around the world. However, the PGA Tour, European Tour, and many of the regional tours co-sponsor the World Golf Championships. These, along with the major championships, usually count toward the official money lists of each tour as well as the Official World Golf Ranking.
Fall Series (defunct): Prior to the 2013 season, the PGA Tour included a fall series consisting of those events after the final playoff event of the FedEx Cup season (The Tour Championship) through the end of the calendar year. These events provided extra opportunities for players to retain their cards by finishing within the top 125 of the money list. Since fall 2013 (the 2014 season), the events held in the fall have opened the tour season, and receive full FedEx Cup points allocations and Masters invitations.
The Rookie of the Year award was also introduced in 1990. Players are eligible in their first season of PGA Tour membership if they competed in less than seven events from any prior season. Several of the winners had a good deal of international success before their PGA Tour rookie season, and some have been in their thirties when they won the award. In March 2012, a new award, the PGA Tour Courage Award, was introduced in replacement of the defunct Comeback Player of the Year award.
Invitational: These events are similar to the regular ones, but have a slightly smaller field and do not follow the normal PGA Tour exemption categories. Invitational tournaments include the Charles Schwab Challenge, the Arnold Palmer Invitational, the RBC Heritage, the Memorial Tournament. The tournaments usually have an association with a golf legend, or in the case of the RBC Heritage, a famous course. The table below illustrates some of the notable features of the exemption categories for these 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.
The tour began 91 years ago in 1929 and at various times the tournament players had attempted to operate independently from the club professionals. With an increase of revenue in the late 1960s due to expanded television coverage, a dispute arose between the touring professionals and the PGA of America on how to distribute the windfall. The tour players wanted larger purses, where the PGA desired the money to go to the general fund to help grow the game at the local level. Following the final major in July 1968 at the PGA Championship, several leading tour pros voiced their dissatisfaction with the venue and the abundance of club pros in the field. The increased friction resulted in a new entity in August, what would eventually become the PGA Tour. Tournament players formed their own organization, American Professional Golfers, Inc. (APG), independent of the PGA of America. Its headquarters were in New York City.