An increase in the prize fund of £500,000,
bring the total purse to £2m will be on offer at the Volvo
PGA Championship at Wentworth on May 25-28.
The winner will finish with a cheque for £330,330.
Ken Schofield, European Tour executive director,
said: "This significant increase places the Volvo PGA Championship,
like the Volvo Masters, within responsible and acceptable reach
of the four major championships and three world championships."
Twenty years ago the total purse was £70,000
and Faldo's share was £11,660.
Colin Montgomerie, three time winner of the
event, added : "This is our flag-ship event and it is a great
honour for me to win the title three years in succession. The standard
of golf is very good and I have to play at my best to stay up there."
