2020, the tour entered into a "strategic alliance" with the PGA Tour. As part of the agreement, the PGA Tour acquired a 15% stake in European Tour Productions, the Scottish Open gained a new title sponsor and became co-sanctioned by the PGA Tour, and two regular PGA Tour tournaments also became co-sanctioned by the European Tour: the Barbasol Championship and the Barracuda Championship. There was also a new sponsor and increased prize fund for the Irish Open. In June 2022, in response to the emergence of LIV Golf, the tours announced that the PGA Tour were increasing their stake to 40% and further changes to the tour, including increased prize funds and leading players in the DP World Tour Rankings gaining PGA Tour cards for the following season. Status and prize money The European Tour is considered the second most important tour in men's golf, behind the United States-based PGA Tour, but retains significantly higher standing than other leading golf tours around the world. This status is reflected by the minimum world ranking points available in each tours respective tournaments, and prize money available. The total prize money available on the European Tour is approximately half that of the PGA Tour. However, this includes the majors and World Golf Championships, which are the most lucrative on the schedule, so the difference for regular tournaments is substantially higher. There is also much more variation in prize funds between tournaments on the European Tour than on the PGA Tour. Even though the prize funds of many European Tour events have increased rapidly since the late 1990s, especially with the introduction of the Race to Dubai and the Rolex Series, on occasion the European Tour has failed to attract as many leading players to its events as in the past, with even some of the top European players staying away. For many players, the European Tour is seen as a stepping-stone to the PGA Tour. During the late twentieth century, the European Tour was traditionally the first overseas move for outstanding players from non-European countries, particularly in the Commonwealth, long a major source for elite golfers, such as Greg Norman, Nick Price and Ernie Els. These players tended to move to the PGA Tour as a second step. When Continental Europe produced its first global golf stars in the 1970s, such as Seve Ballesteros, and especially when Europe began to notch wins over