The Memorial Tournament 2016: Total Purse & Winning Share

Jordan Spieth got back into the winner’s circle last week at the Dean & DeLuca Invitational. (Getty)

The Memorial Tournament presented by Nationwide is widely considered one of the most prestigious events on the PGA Tour schedule.

And now the tournament, which is played this week at Muirfield Village Golf Club in Dublin, Ohio, is also one of the richest.

Thanks to an offseason contract between the Memorial, tournament sponsor Nationwide and the PGA Tour, the Jack Nicklaus-founded event will see a significant increase in prize money.

This year’s Memorial will see a total purse of $8.5 million, with the winner of the star-studded field taking home $1.53 million of that. The player payouts will be determined over the weekend.

Those numbers are up from a year ago when they were $6.2 million and $1.116 million, respectively.

Click here to see the field and tee times for the 2016 Memorial.