Lydia Ko is $225,000 million richer than yesterday. The first LPGA event of the year has finally come to an end. The Lake Nona golf course saw some scintillating performances by the golfers, but finally, it was the 26-year-old who went on to card a 14-under-274 and take home the title of the Hilton Grand Vacations Tournament of Champions.

Well, it looks like it’s not only the Kiwi who has increased her bank balance, but the success of the first event of 2024 on the LPGA tour has brought some good financial news for the women’s circuit as well.

Hilton Grand Vacations Extends LPGA Sponsorship, Boosts Prize Purse

In an exciting development for women’s golf, sports business journalist Josh Carpenter used his X handle to announce a major sponsorship extension between the Hilton Grand Vactions and the LPGA Tour. According to a Carpenter tweet, “Hilton Grand Vacations” has committed to “a five-year extension” as the “title sponsorship” of the “tournament,” signaling a strong and enduring partnership between the company and the LPGA.

The tweet further revealed that the tournament purse is set to experience substantial growth. Starting in the upcoming year, the purse is expected to increase to $2 million, offering a considerable boost in prize money for the participating players. Looking forward, the purse is anticipated to reach “at least $2.5M” by the year 2029, showcasing a long-term commitment from Hilton Grand Vacations to support and enhance the tournament’s financial stature.

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2024 has seen an influx in sponsorship and deals and has also seen a 69% increase in the total prize fund to $118 million from $70 million in 2021, and the Hilton Grand Vacations Tournament has joined the list of LPGA events that have seen a recent prize purse increase as not too long ago the Tour saw another sponsorship extension with one of their longtime partners once again.

Another deal extension between LPGA and CME Group with a record prize purse

At the end of last year, the women’s circuit announced a two-year title sponsorship extension with the CME Group for the season-ending event of the partnership until 2025. The season-ending event was to be branded as the CME Group Tour Championship, with total prize money of US$11 million, establishing it as the most lucrative in LPGA Tour history, rivaling the US Women’s Open.

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The champion of the CME Group Tour Championship will claim a groundbreaking US$4 million, while the runner-up is slated to receive US$1 million. A notable aspect of this renewal is an improved purse distribution formula ensuring a minimum payout of US$55,000 for every qualifying participant in the 60-golfer field. LPGA Commissioner Mollie Marcoux Samaan expressed appreciation and stated, “This partnership extension with CME Group is extremely important and underscores the growth and strength of the LPGA.” Hilton Grand Vacations and CME Group’s continued financial collaboration reinforces their crucial role in boosting the growth and visibility of the LPGA.

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