The Tour was founded in 1992. In 2008 it had a total prize fund of €7,729,284, so it is much further behind the U.S.-based Champions Tour in relative prize money than the main European Tour is behind the PGA Tour. The highest profile seniors event in Europe is the Senior British Open Championship, which is co-sanctioned by the Champions Tour. The European Tour co-sanctions the Senior PGA Championship and the U.S. Senior Open. Prize money in latter does not count towards the Order of Merit, but from 2007 the former is an official money event.
The table below summarises the development of the tour since 1999, which was the year that the euro became the currency of record for the tour. Individual tournaments have purses fixed in a mixture of British pounds, euros and U.S. dollars, so year on year changes in the total prize fund reflect exchange rate fluctuations as well as prize fund movements in constant currencies.