In a strategic move aimed at supporting new entrants and Korn Ferry Tour graduates dubbed the “Earnings Assurance Program,” the initiative ensures that rookies and the majority of Korn Ferry Tour graduates receive an upfront payment of $500,000.
The PGA Tour has given the green light to a groundbreaking initiative for the current season
This sum is later recouped from their earnings, safeguarding them against financial losses. While the PGA Tour officials are still tabulating the costs associated with the program, only eight out of the 27 rookies who completed a full season (15 events or more) fell short of the $500,000 threshold. Notably, the majority of those falling short are back in Q-school this week. The PGA Tour Commissioner Jay Monahan anticipates that the cost of the program could range between $2 million to $3 million, representing the funds required to bridge the gap for players who fail to reach the $500,000 mark.
The PGA Tour Rookies were given the option to receive the money upfront, but the program extended to all fully exempt players. This aspect proved beneficial for players like Kevin Kisner, who faced a dilemma amid a challenging season. Choosing to be at home with his three young children during the summer, Kisner’s earnings amounted to $335,671. The program, designed to cover the gap between actual earnings and $500,000, considers comprehensive earnings, including stipends and non-cash items such as daycare services and health benefits.
The shortfall in earnings alone totaled around $1.9 million
Noteworthy players like Michael Gligic, who secured his card for the next season through the Korn Ferry Tour Finals, faced similar challenges, making $169,449 in 32 starts. The PGA Tour’s commitment to supporting newcomers is evident in initiatives like the Earnings Assurance Program, aimed at creating a financial safety net and fostering a competitive environment on the tour. As the season progresses, the impact and effectiveness of this groundbreaking program will become clearer, potentially reshaping the financial landscape for emerging talents on the PGA Tour.
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