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The prize fund for the AIG Women's Open, which is played this week at the Old Course, St Andrews, will be $9.5 million (£7.25m), an increase of $500,000 on last year.
The competition's prize fund has tripled since before The R&A's partnership with AIG began in 2019. This year the champion will take home $1.425m (£1.1m), the highest in the 48-year history of the Women's Open.
Martin Slumbers, CEO of the R&A, said: “With the great support we have received from AIG as our title sponsor we have been able to achieve transformation and take the Championship to new levels. We greatly appreciate AIG's support and are proud that they share our mission to grow the AIG Women's Open even further and ensure it remains at the top of the women's game.
“The increase in prize money, along with our improvements to the stage and spectators this year, demonstrates our collective commitment to making the AIG Women's Open a world-class tournament for players and fans alike.”
The AIG Women's Open is being held at St Andrews for only the third time in its history.
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