Open Championship winner set to receive over £1 million for first time

The winner of next month's Open Championship at St Andrew's will receive over £1 million for the first time ever after the R&A today announced the prize money for the third major of the year.

The hotly-anticipated event, where Jordan Spieth will look to complete the third leg of the grand slam, will see the Champion Golfer of the Year win £1.15 million.

The announcement means that the total prize fund is up £900,000 on last year, now totalling £6.3 million.

Despite Spieth’s US Open victory at Chambers Bay last weekend he is currently second favourite to lift the claret jug with defending champion Rory McIlroy priced at 4/1 by most bookmakers.

The field is yet to be completed as this week's Travellers Championship is the first of a three-part series of qualifying events on the PGA Tour.

The total breakdown of prize money for the top ten is as follows:

1. £1,150,000

2. £653,000

3. £420,000

4. £327,000

5. £263,000

6. £228,000

7. £195,000

8. £165,000

9. £145,000

10. £132,000