Seven new events will see LET players compete for a total prize fund of €18 million in 2020, an increase of €4.5 million on last year.
The major boost, which was announced today, marks the immediate success of the circuit merging with the US-based LPGA towards the end of last year.
The 2020 schedule will feature 24 tournaments, including 15 in Europe, in addition to August’s Olympic Games in Japan.
The new Race to Costa del Sol, offering €250,000 between the top three finishers on the official ranking, will commence with the Australian Ladies Classic Bonville in February and conclude with the Andalucía Costa del Sol Open de España Femenino in November, the latter having doubled its prize fund to €600,000.
The schedule includes two new events in Sweden: the €1.5 million Scandinavian Mixed hosted by Henrik Stenson and Annika Sorenstam and the Creekhouse Ladies Open.
There is also a new $1 million event in Saudi Arabia, as well as the Mithra Belgian Ladies Open, the Dutch Ladies Open and the VP Bank Swiss Ladies Open.
The 15 events in Europe also include the Aberdeen Standard Investments Ladies Scottish Open and AIG Women’s British Open, as well as a new event in the United Kingdom.
Chaired by LPGA Commissioner Mike Whan, the new LET-LPGA Joint Venture Board includes six directors from the LET, including Solheim Cup captain Catriona Matthew and four directors from the LPGA, as well as R&A chief executive Martin Slumbers and his counterpart at the European Tour, Keith Pelley.
“The LET and the LPGA only began working together in September 2019, but we’ve been blown away with the results in the first 90 days and the positive response from across the golf industry,” said Whan.
“With overall purse increases and seven new events, our athletes will have more opportunities for success. It’s exciting to think what we can accomplish after a full year of working with our new board.
"We have a long way to go, but I’m so happy to say that this is the best position that European women’s professional golf has ever been in.”
LET CEO Alexandra Armas added: “What we have achieved in the last 90 days in incredible and this is just the start of a new direction for the LET.”
Matthew believes that the LET will hit new heights in 2020, saying: “I committed myself to playing on the LET in Europe last year and I couldn’t be more excited about what’s been achieved over the last 90 days to improve the schedule.
"This is a tour that existing players and those joining for the first time should be proud to be part of. I’ll be keeping an eye on some of the exciting young players coming through as we look ahead to retaining the Solheim Cup in Toledo next year.”
The Aberdeen Standard Investments Ladies Scottish Open will return to The Renaissance Club on August 13-16, with the AIG Women's British Open being played at Royal Troon for the first time the following week.
The new UK event will be held immediately before that double-header in the home of golf.