The European Tour will celebrate its 50th anniversary with a new name and a lot more money.
On Tuesday, the European Tour announced that it will rebrand as the DP World Tour and that total prize money will double to more than $200 million.
“The entire ecosystem of our Tour will be strengthened because of this hugely significant deal, and that was essential to us and to DP World, who have been an incredible supporter of our Tour as well as golf more widely, from grassroots through to the elite professional game," said European Tour CEO Keith Pelley in a prepared statement.
RELATED: Timeline of Liv Golf Investments, Premier Golf League and Asian Tour developments (updated)
RELATED: Liv Golf Investments begins to fill in C-suite roster
The 2022 slate features only 23 of the 47 scheduled events played in Europe, but the biggest move is with finances. Each tournament will feature a minimum prize purse of $2 million and total prize money for the season will exceed $200 million, up from $70 just two years ago and $104 in 2021.
DP World, a Dubai-based logistics company, has sponsored the European Tour's season-ending event since 2009.
