The Loop

The Loop

Thanks, Brexit: 2016 British Open purse significantly less than Zach Johnson's St. Andrews payday

July 05, 2016

Good news, those in the 2016 Open Championship field: If you conquer your fellow competitors at Royal Troon, you will leave Scotland with the claret jug.

Time for the bad: Your payout won't be as big as believed.

On Tuesday, R&A Media announced a £6,500,000 purse for this year's Open Championship, an increase of £200,000 from the 2015 tournament at St. Andrews. The winner will receive £1,175,000, slightly up from Zach Johnson's £1,150,000 earnings last summer.

One problem: The United Kingdom European Union membership referendum -- also known as "Brexit" -- has done a number on the pound. Sterling reached a 31-year low against the U.S. dollar on Tuesday to $1.31 figure. Meaning that, while Johnson took home a $1.8 million payday for winning the British Open, this year's champ will receive close to $1.54 million, a significant cut in earnings.

True, $1.54 million is not a bad return for four days of golf. Conversely, a $260,000 drop is nothing to sneer at, and the pound could further dip by the time the Champion Golfer of the Year is crowned in two weeks.

In short: If you see the claret jug on eBay this summer, there's a slight chance it could be the real deal.