PGA Tour purses near $500 million

The PGA Tour is raising purses even higher in five of its biggest events, with two FedEx Cup playoff events now offering $15 million in a schedule that pushes prize money closer to the $500 million mark this year.

The increases, which include $12 million purses in the three invitational tournaments, were approved at a board meeting two weeks ago in Houston and outlined in a memo that PGA Tour Commissioner Jay Monahan sent to players Monday.

“We are positioned to grow faster in the next 10 years than we have at any point in our existence,” Monahan said in the memo, which was obtained by the Associated Press.

Monahan said the tour’s forecast is for 55% of revenue going back to the players in prize money, bonus programs and other benefits. The $838 million allocated to the players includes $32 million from the reserve fund.

Soccer: Portuguese authorities raided Porto’s headquarters as part of an investigation into alleged irregularities related to players’ transfers.

Porto said in a statement that authorities were investigating “suspected” irregularities that could include tax fraud and money laundering stemming from financial movements related to transfers.

⏩ Ali Curtis is out as general manager of Toronto’s Major League Soccer team after three seasons, four months after Toronto FC fired Chris Armas, the coach Curtis brought with him from the New York Red Bulls. Toronto finished its season Sunday with a 1-0 loss to Montreal in the Canadian Championship.

Obituary: Five-time All-Star reliever Doug Jones, who concluded his 16-year career with the A’s in 2000, has died. He was 64, and a cause was not immediately known. Jones went 69-79 with a 3.30 ERA and 303 saves in 846 major-league games with seven teams.