PGA-LIV Vegas match to feature $17 million crypto purse

The PGA Tour-LIV Golf made-for-TV matchup next month, featuring four of the sport's biggest names, will have a purse worth a minimum of $17 million in cryptocurrency.

The newly named Crypto.com Showdown will see Scottie Scheffler and Rory McIlroy of the PGA compete against Brooks Koepka and Bryson DeChambeau of LIV, in an 18-hole event at Shadow Creek Golf Course in Las Vegas.

The match will feature "a multimillion-dollar purse to be paid in CRO cryptocurrency." It's unclear how much the winning and losing teams will receive.

The prize money is more than most tournaments on the PGA Tour, other than majors and signature events, which are usually in the $14 -$15 million range.

The winners of PGA events often take more than $1.7m.

Crypto.com chief marketing officer Steve Kalifowitz said each of the four players will need to register with Crypto.com to be paid.

Kalifowitz added that the players don't have to keep the cryptocurrency and can sell or trade their winnings.

The contest is lined up as a Ryder Cup-style event, with match-play rounds of four-ball, singles and alternate shot.

In a similar event in 2018, Phil Mickleson beat Tiger Woods in the first edition of "The Match" and took home the entire $15m prize.

In February of this year, McIlroy won $4m after beating Max Homa, Rose Zhang and Lexi Thompson.

-Reuters