Are Major Winners Underpaid?

As Phil Casey reports on the R&A announcing a purse increase to match those of the U.S. Open and Masters (the PGA had already gotten there last year), Alex Miceli rightfully wonders if the major winners are woefully underpaid. Especially considering the value of today's TV rights deals and other tournament revenues.

Miceli writes:

Cutting the $100 million in half for the USGA to continue to operate and then splitting the remaining $50 million between the association and the Open competitors would leave $25 million for the purse, from which the winner would receive about $4.5 million.

Of course, that breakdown comes after including only the domestic TV rights to the Open. The international rights are not even factored into the equation.

And that's a number we won't see reflected in the USGA's revenues for a couple of years. Miceli goes on to quote Jim Furyk, who pretty much declares this to be the result of Tim Finchem shaming the various bodies into matching upper-tier PGA Tour events like The Players.