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.[citation needed]
The tour began 91 years ago in 1929 and at various times the tournament players had attempted to operate independently from the club professionals.[1][5] 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.[6][7] 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.[8] The increased friction resulted in a new entity in August, what would eventually become the PGA Tour.[9][10][11][12] Tournament players formed their own organization, American Professional Golfers, Inc. (APG), independent of the PGA of America.[13][14][15] Its headquarters were in New York City.[10]
The Rookie of the Year award was also introduced in 1990.[74] 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.[75]
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]
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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