The Irish Open will see its prize fund doubled to $6million (€5,056,590) next year as part of the new Strategic Alliance between the European Tour and the PGA Tour.

The PGA Tour released its 48-event, 2021-22 schedule today with the Scottish Open acquiring a new sponsor in Genesis and becoming a co-sanctioned event the week before The Open with that date confirmed until 2025.

The PGA Tour’s Barbasol Championship, which was won by Seamus Power last month, and the Barracuda Championship will also count on both tours and on the FedExCup and Race to Dubai money lists.

The player fields in all three co-sanctioned events will be a split between members of both Tours., paving the way for similar arrangements with other events on both sides of the Atlantic and the creation of new events.

The increase on the prize fund for the Irish Open is a massive boost to an event that attracted just four players from the world’s top 50 to Mount Juliet last month.

The European Tour’s Chief Executive, Keith Pelley said: "The (Irish Open prize fund increase) is part of an overall commitment of the PGA Tour to help advance a wide range of European events and they will continue to work with us as they are right now feverishly with Guy Kinnings and the respective commercial teams on opportunities across the Tour."

Pelley was speaking from his holidays in Ireland and while the news of the co-sanctioned events strengthens the US-European alliance against the threat of the breakaway Premier Golf League, he had not been in touch with its spokesman, Andy Gardiner.

"I have not, and I have no intention to do so," Pelley said.

"I'm on holiday here in Ireland at beautiful Old Head here in Kinsale. I'm going to Adair Manor to see JP McManus, and I just come from Royal County Down, so I'm in one of the greatest golf meccas, and I have not talked to Mr Gardiner and have no intention to talk to Mr Gardiner."

While the Irish Open is expected to remain in the same date next year, the week before the Scottish Open and two weeks before The Open, the 2022 venue and sponsor have yet to be decided.

While Dubai Duty Free and Mount Juliet have been tipped to continue next year, a final decision has yet to be made.