Amy Olson, a ten-year veteran of the LPGA, has seen many competitors leave professional golf because of financial problems.
Even though the LPGA prize money is increasing, it’s still possible for a player to lose money and make the cut .
In November 2022, Olson said Golfweek that the LPGA was not sustainable for future generations. Fast forward to August 2023, and the LPGA is making progress.
The LPGA will guarantee a minimum payout to players who participate in all five major championships. This is meant to cover costs. Accenture’s new multi-year agreement with the LPGA means that the LPGA can now help offset expenses for players at additional tournaments over the next five years.
The 144 players who will compete in this week’s Portland Classic are guaranteed a minimum payout. This is also true for the Ascendant LPGA benefiting Volunteers in America, which takes place in October. The LOTTE Championship was held in April and players who participated received a travel stipend. This helped cover the costs of traveling to and back from Hawaii. Golfers who competed in the Dana Open presented By Marathon in July received a minimum payout.
In a press release, Mollie Marcoux-Samaan, LPGA Commissioner said: “We are proud to partner Accenture in our efforts to improve the financial opportunities for our players and provide new and innovative ways of engaging with fans.” Through this partnership with Accenture we are making progress towards achieving pay equality and ensuring that women and girls can follow their dreams in golf.
Accenture, the official Diversity, Equity and Inclusion Partner for the Epson Tour, will also lower the entry fees by $50 for 20 events over the next five years. Accenture will also provide advice to the LPGA on its metaverse strategy, which could help increase revenue for players and sponsors.
Christie Smith, senior managing director of Accenture’s Talent and Organization Group, said: “Combining immediate, tangible improvements such as lower fees and creating future revenue streams for both the league and the players through the Metaverse is a way to drive inclusion and a cultural equality for women.” The LPGA has taken the lead in this area, but all sports will benefit from it.
