The Red Cardigan: Why the Arnold Palmer Invitational is Golf’s Most Iconic Signature Event
In the world of professional golf, there are “tournaments,” and then there are “traditions.” As the PGA Tour rolls into Orlando this week for the 2026 Arnold Palmer Invitational (API), the stakes have never been higher.
Between a massive $20 million purse, the legendary Bay Hill course, and the most coveted piece of knitwear in sports, here is everything you need to know about “Arnie’s Place.”
1. A History of Legends: From Citrus to Cardigans
The tournament didn’t always carry the King’s name. It debuted in 1966 as the Florida Citrus Open Invitational. In 1979, Arnold Palmer moved the event to his own backyard: Bay Hill Club & Lodge.
It wasn’t until 2007 that the event was officially renamed to honor Palmer, but the most touching tradition began after his passing in 2016. Since 2017, the champion no longer receives a standard trophy alone; they are draped in an iconic Red Cardigan Sweater, modeled after the alpaca cardigans Palmer made famous. It is widely considered the second-best “garment” prize in golf, trailing only the Masters’ Green Jacket.
2. The $20 Million Payday: Prize Money & Points
As a designated PGA Tour Signature Event, the 2026 Arnold Palmer Invitational features one of the largest financial incentives in the sport.
- Total Purse: $20,000,000
- Winner’s Share: $4,000,000 (20% of the total purse)
- FedEx Cup Points: 700 points to the winner
Unlike standard PGA Tour stops where the winner takes home 18%, the “Legacy” Signature Events (hosted by legends like Palmer, Tiger Woods, and Jack Nicklaus) reward the champion with a full 20% of the purse.
3. The Honor Roll: Past Winners
The “King of Bay Hill” is undoubtedly Tiger Woods, who has won the event a record eight times (including four consecutive years from 2000–2003).
Recent Champions:
- 2025: Russell Henley (Defending Champion)
- 2024: Scottie Scheffler
- 2023: Kurt Kitayama
- 2022: Scottie Scheffler
- 2021: Bryson DeChambeau
- 2018: Rory McIlroy
4. The 2026 Field: Who to Watch
As of March 4, 2026, the leaderboard is packed with the world’s elite. Scottie Scheffler enters as the heavy favorite (+333 odds), looking to join Tiger Woods as the only player to win the event three times. However, he faces stiff competition from a red-hot Rory McIlroy and the defending champion Russell Henley, who won last year by a single stroke after a dramatic chip-in eagle on the 16th hole.
Why Bay Hill is a “Brute”
Players often refer to Bay Hill as one of the toughest tests on the Florida Swing. With thick rough, lightning-fast greens, and the daunting par-4 18th hole, flanked by water and rocks. The tournament often feels more like a U.S. Open than a standard tour stop. To win here, you don’t just need a good swing; you need “Arnie-level” nerves.
Image Credit: Wikimedia commons Bryan Berlin
