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.
Originally established by the Professional Golfers' Association of America, it was spun off in December 1968 into a separate organization for tour players, as opposed to club professionals, the focal members of today's PGA of America. Originally the "Tournament Players Division", it adopted the name "PGA Tour" in 1975 and runs most of the week-to-week professional golf events on the tournament known as the PGA Tour, including The Players Championship, hosted at TPC Sawgrass; the FedEx Cup, with its finale at The Tour Championship at East Lake Golf Club; and the biennial Presidents Cup. The remaining events on the PGA Tour are run by different organizations, as are the U.S.-based LPGA Tour for women and other men's and women's professional tours around the world.
Without the tour players, the PGA of America became primarily an association of club professionals, but retained control of two significant events; the PGA Championship and the Ryder Cup. The former was an established major championship, but the latter was an obscure match play team event which was not particularly popular with golf fans, due to predictable dominance by the United States. With the addition of players from continental Europe in 1979 and expanded television coverage, it became very competitive and evolved into the premier international team event, lately dominated by Europe. Both events are very important revenue streams for the PGA of America.
The PGA Tour also conducts an annual Qualifying Tournament, known colloquially as "Q-School" and held over six rounds each fall. Before 2013, the official name of the tournament was the PGA Tour Qualifying Tournament; it is now officially the Korn Ferry Tour Qualifying Tournament. Through the 2012 edition, the top-25 finishers, including ties, received privileges to play on the following year's PGA Tour. Remaining finishers in the top 75, plus ties, received full privileges on the Korn Ferry Tour. Since 2013, all competitors who made the final phase of Q-School earned status on the Korn Ferry Tour at the start of the following season, with high finishers receiving additional rights as follows:
The number of Race to Dubai points available in the last three events of the season was increased, and the field size reduced. The aim was to make more players still have a chance of winning the Race to Dubai entering the final events. In addition, although the prize money was not increased, the bonus pool of US$5m would now be split among the top five players rather than the top ten. The money saved from restricting field sizes was used solely to increase the first prizes, which means that the tournaments would not have the standard prize fund distribution, and the DP World Tour Championship, Dubai would have the largest tournament first prize in golf of US$3m.