British Open Prize Money Increases for First Time Since 2007 on Weak Pound

The winner of this month’s British Open at St. Andrews will receive 850,000 pounds ($1.3 million) after officials increased prize money for the first time in three years.

The prize fund for golf’s oldest major championship will be 4.8 million pounds, the Royal and Ancient Golf Club said in a statement. It was 4.2 million the past three championships, with the winner receiving 750,000 pounds.

“The Open Championship sits at the forefront of world golf and it is appropriate that our prize fund reflects that position in the game,” R&A Chief Executive Peter Dawson said. “Over the last 18 months we have had to take account of the pound’s weakened position against the U.S. dollar and euro and we have increased our prize money accordingly.”

Since mid-2007, the pound has declined about 25 percent against the dollar and 19 percent against the euro.

The 150th Anniversary Open Championship will be played July 15 to 18 at St. Andrews in Scotland. Stewart Cink of the U.S. is the defending champion.

To contact the reporter on this story: Bob Bensch in London at bbensch@bloomberg.net.

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