The R&A has announced that the total prize fund for The Open will be $17 million, a $500,000 increase on 2023’s figure. (R&A)

The R&A, the organizer of golf’s British Open, has announced that the winner of the 152nd Open at Royal Troon this year will receive $3.1 million in prize money.

The announcement means that the Champion Golfer of the Year will receive the highest amount in the Open’s history.

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The R&A also announced that the total prize fund for The Open, played from July 14 to 21, will be $17 million, a $500,000 increase on 2023’s figure.

Martin Slumbers, chief executive of The R&A, has said: “The R&A has a responsibility to strike a balance between maintaining The Open’s position in the global game, providing the funds required for governance, and developing amateur and recreational golf in 146 countries internationally.

“We have to make choices if we want to continue to build on the significant growth in participation that is essential for golf’s future.

“We remain concerned about the impact substantial increases in men’s professional prize money are having on the perception of the sport and its long-term financial sustainability. We are determined to act with the interests of the global game in mind as we pursue our goal of ensuring golf continues to thrive in 50 years’ time.”

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Second and third place will receive $1,759,000 and $1,128,000 respectively, while the lowest prize on offer is $38,900 to the player that finishes in 70th place.

Earlier this month Mark Darbon was appointed as the new chief executive of the R&A, set to succeed the long-serving Martin Slumbers who announced in January that he would be stepping down at the end of this year.

Slumbers, who replaced Peter Dawson in 2015, will oversee the upcoming 152nd Open at Royal Troon, the return of the AIG Women's Open to St Andrews, and the 43rd Curtis Cup match at Sunningdale before departing the organization.