Open ChampionshipJuly 9, 2018

British Open 2018: R&A announces prize money for 147th Open at Carnoustie

The Open Media Day - Carnoustie Golf Club
Jane Barlow - PA Images(Photo by Jane Barlow/PA Images via Getty Images)

The claret jug is one of golf's ultimate and iconic prizes. What it does for the bank account ain't too shabby, either.

The R&A announced on Monday that this year's Open Championship will boast a $10.8 million purse and $1.89 million winner's share. Both are up from last year's marks of $10.25 million and $1.85 million.

"The prize fund reflects The Open’s position as one of the world’s great sporting events," said Martin Slumbers, chief executive of the R&A, “and we look forward to seeing the best players in the sport competing for the claret jug at Carnoustie.”

Finishing short of a major title can be agonizing to one's psyche, although the consolation prize will help alleviate that pain. The runner-up at Carnoustie will still take home $1,089,000, with third place not too far behind at $701,000. Players finishing inside the top 21 will earn six-digit payouts.

While impressive figures, they do fall short of their major brethren. Patrick Reed grabbed $1.98 million for his green jacket, while Brooks Koepka cashed in a cool $2.16 million for his feats at Shinnecock.

This year's Open will begin on July 19th at Carnoustie. Jordan Spieth is the defending champion.

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