The winner of next year's CME Group Championship will receive a record $4 million (€3.66 million) prize, the LPGA and CME Group announced earlier this week.
The award will be the largest individual prize in the history of women's sport.
The runner-up will also receive $1 million out of a total $11 million purse, an increase from 2023's $7 million purse with $2 million set aside for the winner. In 2024 every player will be awarded at least $55,000.
"Beginning next year, the CME Group Championship's $11 million purse will be the highest on the LPGA tour, and the $4 million first-place prize will be the largest single prize in women's sports," said CME Group CEO Terry Duffy.
"Both of these developments will make our event even more exciting for the players and spectators, while bringing more parity to the game."
The increase comes during steadily climbing prize money in the women's game. Over $116 million will be up for grabs during next year's LPGA Tour, with a record ten regular (non-major or CME Group Tour Championship) tournaments offering payouts of over $3 million.
Increases in prize money from the majors have also made up a large portion of the jump. The US Women's Open awarded a total of $11 million this year with winner Allisen Corpuz taking home $2 million, up from $10 million and $1.8 million last year, and the 2023 KPMG Women's PGA Championship offered $10 million total — more than double 2021's pool of $4.5 million.