The Open winner's cheque breaks £1m for first time... that's £175,000 more than Rory McIlroy banked last year

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The winner of the Open Championship will earn more than £1million for the first time ever at St Andrews next month, the R&A announced on Wednesday.

The overall prize fund for the game's oldest major championship has increased £900,000 to £6.3million, with the champion receiving £1,150,000. That is £175,000 more than Rory McIlroy won at Hoylake last year.

R&A chief executive Peter Dawson said: 'The Open is one of the world's pre-eminent sporting events.

The Open winner will receive £1,150,000, an increase of £175,000 more than Rory McIlroy took home last year

The Old Course at St Andrews, aka The Home of Golf, will stage this year's tournament

'The Championship represents the pinnacle for the world's greatest golfers and this increase is appropriate for an event with the Open's global appeal.'

Jordan Spieth won £1,142,000 for his US Open triumph on Sunday.

Meanwhile, Spieth believes an unprecedented calendar grand slam is possible with the right preparation and ranks the Old Course at St Andrews as 'one of my favourite places in the world'.

Jordan Spieth has set his sights on the grand slam having already claimed The Masters and US Open (above)

'To go to the Home of Golf in the next tournament is the sole focus, I am not going to look beyond that. But I guess you can't win them all unless you win the first two. We will go to St Andrews looking to win the Claret Jug. I believe we will be able to get the job done if we get the right prep in,' he said.

Spieth's only experience so far of the Old Course came when he and his United States team-mates played a round there in 2011 before contesting the Walker Cup at Royal Aberdeen. 

'It's one of my favourite places in the world,' added the 21-year-old, who is the youngest winner of the US Open since 1923 and youngest two-time major champion since Gene Sarazen in 1922.