The R&A announced on Monday that it will increase the purse for next month's AIG Women's British Open to $4.5 million, a almost 40 percent boost.
The R&A announced the increase on Monday amid a focus on pay equality for women in sports, with much attention being paid to the significantly lower amount of money winners of the Women's World Cup earn compared to their male counterparts.More news: Japan's Hayabusa2 probe touches down on asteroid
The AIG Women's British Open purse is now the second largest in women's golf, behind the U.S. Women's Open ($5.5 million).
The victor of the Women's British Open will receive less than a third of what their male equivalent receives at The Open, but the overall prize fund for the major has been significantly increased.More news: Man, 22, arrested after climbing Buckingham Palace fence at 2am
Georgia Hall will defend her title against nine of the past 10 champions at the Woburn challenge, with AIG entering the first of a five-year sponsorship deal. This year's victor will take home $727,500.
The prize pot remains significantly smaller than the $10.75 million on offer at the men's British Open at Royal Portrush this month, with the victor receiving $1.89 million. The victor will receive $1.935 million.More news: Who Are the Highest-Paid Celebrities?
R&A chief executive Martin Slumbers says the prize fund - up from $3.25 million a year ago - is an important first step toward achieving parity with the men's game, but that it will take time.