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.
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.
The 2013 season, which was the last before the tour transitioned to a schedule spanning two calendar years, had 40 official-money events in 38 weeks, including three alternate events played the same week as a higher-status tournament. The other event that is considered part of the 2013 season is the biennial Presidents Cup, matching a team of golfers representing the US with an "International" team consisting of non-European players (Europeans instead play in the Ryder Cup, held in even-numbered years).
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.
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: