The winner of the 2014 Open Championship will pocket £975,000 after an increase in prize money was announced today.

The R&A has published the prize money for this year's tournament, revealing here will be a total of £5,400,000 on offer to those taking part at the 143rd Open Championship, which will be played at Royal Liverpool between 17July 17-20.

With an increase of £30,000 compared to last year's champion Phil Mickelson, the winner will take home a near-seven-figure sum as well as the famous Claret Jug with Rory McIlroy, Adam Scott and Tiger Woods amongst the favourites to top the leaderboard at Hoylake.