PGA Tour commissioner announces higher prize money at some events in response to LIV Golf series

    PGA Tour Commissioner Jay Monahan speaks during a news conference before the start of the Travelers Championship golf tournament on June 22, 2022.

    (CNN)PGA Tour commissioner Jay Monahan told reporters Wednesday prize money at eight regular season tournaments will be increased, an announcement that comes on the heels of several big-name golfers leaving the tour for the controversial Saudi-backed LIV Golf Series.

    "Let me be clear, I am not naïve. If this is an arms race and if the only weapons here are dollar bills, the PGA Tour can't compete," Monahan said at a news conference. "The PGA Tour, an American institution, can't compete with a foreign monarchy that is spending billions of dollars in an attempt to buy the game of golf."
    During the commissioner's news conference, the LIV Golf series announced former world No. 1 Brooks Koepka would be joining the venture.
      LIV Golf is organized by LIV Golf Investments and backed by Saudi Arabia's Public Investment Fund (PIF) -- a sovereign wealth fund chaired by Mohammed bin Salman, the Crown Prince of Saudi Arabia and the man who a US intelligence report named as responsible for approving the operation that led to the 2018 murder of journalist Jamal Khashoggi. Bin Salman has denied involvement in Khashoggi's killing.
        Earlier this month, Monahan announced that all golfers playing in the breakaway series will no longer be eligible to participate in PGA Tour tournaments.
        Monahan said the Tour welcomes "good, healthy" competition but said the new tour is an "irrational threat" and is not concerned with the "true growth" of the game.
        Until now, the various golf tours and organizations have worked together, he said.
          "But when someone attempts to buy the sport, dismantle the institutions that are intrinsically invested in its growth and focused only on a personal priority, that partnership evaporates and instead we end up with one person, one entity using endless amounts of money to direct employees, not members or partners, toward their personal goal," Monahan said. "Which may or may not change tomorrow or the next day. I doubt that's the vision any one of us have the for the game."
          In a memo to players obtained by CNN Monahan wrote that the Sentry Tournament of Champions, The Genesis Invitational, Arnold Palmer Invitational, The Players Championship, WGC - Dell Technologies, Memorial Tournament, FedEx St. Jude Championship and BMW Championship would have millions added to their prize money, including several that will see 67% more in the purses.
          Monahan also said the PGA Tour will create a series of up to three international events that will feature a limited-field in a no-cut format. The international events will take place after the conclusion of the fall schedule and will include the top 50 players from the final FedEx Cup points list and the best performers in the fall.