PGA Tour Enterprises CEO Brian Rolapp explained the expansion in a memo to players Thursday afternoon, a week before the late start of the 2026 season. The Associated Press reviewed the memo, which included updates on the progress of a new schedule model by a committee chaired by Tiger Woods.
The expansion into the top 50 in the FedEx Cup was the result of a players meeting at the Rocket Classic, a week after Rolapp took over as CEO of the profitable PGA Tour Enterprises. It was also discussed at the November board meeting before being approved.
This will roughly double the number of players receiving recurring grants this year.
“By expanding the Player Equity Program, we reaffirm our commitment to recognizing competitive achievement and ensuring more of our members have the opportunity to share in the long-term success of the PGA Tour,” Rolapp wrote in the memo.
The tour announced the equity program nearly two years ago when it brought in Strategic Sports Group – a consortium of North American sports owners led by Fenway Sports Group – as a private investor that made an initial commitment of $1.5 billion with a chance to double the investment.
The program’s first steps saw $750 million in equity grants awarded to 36 players based on career performance, the previous five years and the Player Impact Program that measures star power; $75 million for 64 players based on the previous three years; $30 million for 57 PGA Tour member players; and $75 million for 36 former players who were instrumental in building the tour.
The program included an additional $600 million in recurring equity grants for future PGA Tour players, to be awarded annually in amounts of $100 million beginning in 2025.
Those 2025 subsidies will be awarded in April, while the top 50 in this year’s FedEx Cup – that list will be finalized after the BMW Championship – would receive their subsidies in April 2027.
Of the initial $930 million to 193 players, 50% will vest after four years, 75% after six years and fully vest after eight years. The annually recurring shares have a cliff vesting of 100% after six years.
The scholarships awarded to more than 20 players in 2025 were determined based on the past three years of career points, career points earned last season and the Player Impact Program. The latest PIP results have not yet been released.
That brings the number to more than 213 PGA Tour members sharing approximately $1.3 billion in stock grants.
“As the sports industry continues to evolve and attract significant investment, your involvement with the PGA Tour is becoming an increasingly important part of the conversation,” Rolapp wrote.
“The PGA Tour’s player ownership model offers a groundbreaking approach that gives you the opportunity to benefit from the PGA Tour’s growth and success in ways beyond weekly revenue. In short, as the PGA Tour improves, so do you.”
He gave no concrete details about a revamped scheme that the Future Competition Committee is investigating. Topics covered include the potential for what he described as an “iconic start” to the season, exploring more major markets (the tour does not regularly take place in New York, Chicago or Boston) and strengthening the meritocratic structure.
Rolapp described the progress as exploratory and no decisions have been made yet.
He also tried to allay any concerns about one of his main pillars – scarcity – which was interpreted as the possibility of fewer tournaments.
“When we talk about scarcity, the goal is to make each event more important to fans, players and partners – not to dramatically reduce the total number of events, play options or access,” Rolapp wrote. “The committee is still exploring all options, and our priority is to create a schedule that maximizes engagement and value for all involved.”
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