Tough Economy Hits LPGA; Purses Slashed In Downturn

November 19, 2008 7:00 p.m. EST

West Palm Beach, FL (AHN) - Due to the recent economic crisis, the LPGA announced this week that it will be cutting three tournaments as well as $4-$5 million in prize money.

The three events that were dropped from the tour next year are the ADT Championship, the Fields Open of Hawaii, and the Ginn Tribute in South Carolina.

In addition to these recent cutbacks, the purse was announced to be approximately $55 million. In 2008, the purse was closer to $60.

For decades, golf had been thought of as recession proof. People would always want to play, and professionals would always be paid just the same.

While the PGA has no plans to make cuts to its schedule or prize money next year, the LPGA is learning that it's not nearly as invincible.

Yet, despite the recent shortage of purse, it will still place in its average range, as a result of good development over the last three years.

The average event will pay $1.8 million dollars, though sponsorship is a growing concern for the league. Only 5 of the 24 national and Canadian events have locked up sponsors beyond next year.