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Nov. 6, 2013 / 9:00 PM

PGA, Players Championship increase prize money

SEA ISLAND, Ga., Nov. 6 (UPI) -- Both the PGA Championship and Players Championship will offer $10 million in prize money next year, it was announced Wednesday.

Those two events will be the most lucrative tournaments in golf.

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The announcement was made by PGA of America President Ted Bishop and PGA Tour Commissioner Tim Finchem on the eve of the McGladrey Classic.

The PGA Championship purse will be increased by $2 million and the Players Championship prize money will go up by $500,000.

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Tim Finchem

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