Open 2017: Why is the prize money paid in dollars this year instead of pounds?
THE WINNER of the Open Championship 2017 will be paid is US dollars for the first time in history. But is Brexit to blame?
The Open prize pot is an eye-watering £79million ($10.25million) this year, with the winner of the Claret Jug pocketing a whopping £1.42million ($1.845million).
But the champion at Royal Birkdale will be paid in US dollars rather than sterling for the first time.
Organisers cite the fact that the dollar is the the most common currency in golf, but it is thought that the EU referendum could have influenced their decision.
The pound plummeted in value after the UK voted for Brexit in the EU referendum in 2016, fuelling uncertainty and perhaps encouraging Open bosses to switch to the dollar.
In February the R&A told BBC Sport that the fall in sterling's value had made a "significant impact" in driving the proposal to pay all Open prize money in American currency.
But R&A chief Martin Slumbers said: “We are operating in an increasingly global marketplace and have made the decision to award the prize fund in US dollars in recognition of the fact that it is the most widely adopted currency for prize money in golf.”
Despite the change in currency, the prize pot for the prestigious tournament has increased by 10 per cent.
Henrik Stenson took home £1.175million when he won The Open in 2016. This translates as roughly $1.525million today, meaning this year’s champion will net £300,000 more than the Swede.
Th Open prize pot has increased 10 per cent since Henrik Stenson won last year
The Open 2017 prize money
1st: $1,845,000
2nd: $1,067,000
3rd: $684,000
4th: $532,000
The Open: Charley Hoffman scores an EAGLE on the first hole
5th: $428,000
6th: $371,000
7th: $318,000
8th: $268,000
9th: $235,000
10th: $213,000