KPMG Women's PGA Championship Prize Money Doubles to $9 Million: 'We Wanted to Take a Bold Step'

Darren Carroll/PGA of America via Getty LPGA Championship 2021

The prize purse for the KPMG Women's PGA Championship doubled in size to $9 million this week.

The increase in earnings is a substantial step towards equality within the sport, the CEO of KPMG, Paul Knopp, told PEOPLE. "We decided when working with the PGA of America that we wanted to take a bold step."

Now in its eighth year, the "original vision" for the KPMG Women's PGA tour was, "to help the game of women's golf and try to bring it closer to what the men experience," Knopp said.

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LPGA Tour commissioner Mollie Marcoux Samaan told ESPN that the tour "looks forward to working with KPMG and the PGA of America to continue to use our platform to empower young women and inspire positive change in the world."

Marcoux Samaan added, "This is a very big day for the LPGA, for women's golf and for women's sports."

In addition to the increased purse, KPMG — which made PEOPLE's 2021 Companies That Care list — has elevated the locations and coverage of the event for the women. "That means that they play on courses where men have played and making sure there's television coverage," Knopp told PEOPLE.

The field for the 2022 KPMG Women's PGA Championship includes 99 of the top 100 players on the LPGA's Official Money List, along with nine PGA/LPGA Club Professionals, who will measure their exceptional talents on a historic Major Championship stage, KPMG reported.

Golfer Leona Maguire told the KPMG Women's Leadership Summit, "It's incredible to have KPMG's support."

27-year-old Maguire became the first Irish winner on the women's tour in February. "These are the venues we grew up watching the guys play," she said.

The 2022 KPMG Women's PGA Championship will run June 23-26 at Congressional Country Club's Blue Course in Bethesda, Maryland.

KPMG made People's annual 100 Companies That Care list in 2021. To nominate a business demonstrating outstanding respect for its employees, community and the environment, visit Great Place to Work.