The event at Pine Needles Lodge and Golf Club in Southern Pine in North Carolina will offer the biggest purse for a women's golf tournament after the USGA struck a deal with ProMedica for the non-profit organisation to become its presenting sponsor.

Following the agreement between the USGA and ProMedica, the prize pot is set to increase to $11 million (£8.1 million/€9.7 million) in 2023 and $12 million (£8.8 million/€10.6 million) in 2024.

The winner of this year's event, scheduled to run from June 2 to 5, will pocket $1.8 million (£1.3 million/€1.6 million).

The purse was $5.5 million (£4 million/€4.8 million) when Yuka Saso won the US Women's Open at Olympic Club in San Francisco last year.

A total of $12.5 million (£9.2 million/€11 million) was up for grabs at the men's equivalent in 2021.

Ladies Professional Golf Association Commissioner Mollie Marcoux Samaan stressed the importance of the prize fund increase for women's golf.

"The stakes are so much higher, the impact is so much bigger," said Marcoux Samaan.

"I don’t think it can be underscored how important something like this is."

Juli Inkster, who won $315,000 in 1999 for her first US Women's Open victory, said it was a "huge step for women's sports all over the world".

 "They rent their own cars, they do their travel, they work really hard," added Inkster.

"And sometimes you feel like you’re not getting rewarded for how hard you work. 

"ProMedica is giving these ladies the opportunity to play for a lot of money as well as the USGA Championship. 

"This will make or break their year, their life."