The Arnold Palmer Invitational is one of the most prestigious events for golfers, outside of the Majors.

It’s a tournament steeped in tradition, and obviously carries a certain weight thanks to its association with the legendary Arnold Palmer himself.

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The Masters, the previous year’s winner is there to hand over the knitwear.

It’s not just the cardigan that’s on offer, though. You only have to look at Scottie Scheffler’s winnings at the Arnold Palmer Invitational to see there’s huge incentives for placing at the top of the leaderboard.

In total, there is a $20m purse available to the field at Bay Hill. The winner in 2026 will get $4m alone, while second place takes $2.2m and third place earns $1.4m.

As well as the money and the cardigan and the impressive trophy, the winner will also bag 700 FedEx Cup points.

Scottie Scheffler told the press: “I met him a couple times when I was younger, but I didn’t really get to spend too much time with him. You watch his legacy and you know he’s such a great guy on the golf course and off the golf course.

“If you know the work he’s done, whether it’s here at Bay Hill through the Palmer Foundation, he’s just a really special person we all look up to.”

Palmer took over the Bay Hill Club and Lodge in 1974, after falling in love with the course when he played there nine years prior. After leasing the venue originally, Palmer eventually bought it outright and was pivotal in transforming the course into the renowned golfing location it is today.

Scottie Scheffler celebrates his win at the Arnold Palmer Invitational.

(Image credit: Getty Images)

The year before that, Bryson DeChambeau finally secured his own red cardigan after three near-misses. He said: “It’s beyond my wildest dreams for Mr. Palmer’s event. I came hear as an amateur, he gave me an invitation and I loved this golf course the minute I arrived and I love the atmosphere and I love the fans.

“I loved what Mr. Palmer did with this place and what he’s done and his legacy he’s left here. It’s quite amazing.”

The big-hitter joked that he was given an XL cardigan, which still barely fit him. He also dedicated the win to Tiger Woods, who had supported DeChambeau before the win and who was obviously going through his own intense recovery after being involved in a car crash earlier that year.

DeChambeau added: “I think this red cardigan is not only for Mr. Palmer, but I would say it’s a little bit for Tiger as well, knowing what place he’s in right now.”

Meanwhile, Tyrrell Hatton was very protective of his own red cardigan back in 2020, telling the press: “I don’t want to ruin it and with the celebrations that will occur tonight I think it’s best to put on a coat hanger. But it’s very special to have this and it will take quite a place in the wardrobe.”