Ryan Fox loses huge chunk of Open Championship | Golf News

Ryan Fox claimed his third PGA Tour victory and first major championship in his 94th look on the circuit — only to immediately lose over a million {dollars} in prize money to taxes.

Fox drained an 11-foot birdie putt on the 18th gap at Royal Birkdale as third-place finisher Sam Burns sank to the ground in disappointment. The New Zealander stood in shocked disbelief for a number of moments after his victory before calling his household, graciously accepting the trophy, and offering apologies to anybody he might have ignored in his acceptance speech, with Scottie Scheffler’s feedback catching him by shock.

Her Majesty’s Revenue and Customs (HMRC) requires match organizers to immediately withhold a basic 20 p.c fee at the source for earnings exceeding the personal allowance threshold — and that’s just the start.

Since his whole internet revenue comfortably surpasses £125,140, or $93,020.94, Fox advances through the U.Okay.’s progressive tax brackets. His substantial prize money pushes the majority of his earnings into the U.Okay.’s highest tier — the 45 p.c extra fee.

Under distinct U.Okay. tax rules, HMRC does not solely tax match winnings. It also claims a proportional share of a international athlete’s global endorsement and sponsorship income, calculated according to the quantity of days they competed on U.Okay. soil that yr.

Ultimately, Fox surrendered roughly 45 p.c of his earnings, taking home just $1,760,000 of the unique $3,200,000 prize. Yet the tax implications are unlikely to dampen the spirits of the PGA Tour star, who was overwhelmingly grateful for his victory at Royal Birkdale.

“It’s unbelievable, to be honest. I still don’t know what to think,” Fox said following the win. “My nerves are all over the place. I’m not quite sure how I hit that putt on 18. Look, it is a dream come true.

“Looking at that trophy now, it is the first time I’ve seen it up close. So it is fairly wonderful.”

He went on to reflect on how his time living in America has reshaped his outlook as he competes on the PGA Tour.

“Playing on the PGA Tour, taking part in against the best guys every week, it just sharpens your recreation,” Fox remarked.

“A pair of wins last yr, I feel deep down I most likely thought I might compete with the best guys in the world, but until you truly do it, it is a bit more durable to consider. Both wins last yr actually made me consider that.”