Golf greats marvel at new-age pay days

Golf great Peter Thomson says it's not Jordan Spieth or Jason Day that the world's best players need to worry about these days.

"It's the taxman," Thomson said as 19 former Australian Open winners assembled for "a drive down memory lane" on the first fairway of The Australian Golf Club on Wednesday to commemorate the 100th staging of the national championship.

Thomson, who played for proverbial peanuts when he was winning five British Open crowns in the 1950s and 60s, marvels at how much the game's new-age stars earn in the 21st century.

Spieth, the world No.1 who landed his first two major championships this year, broke Tiger Woods' season earnings in 2015 by accruing more than $US22 million ($A30.35 million) in prize money.

"Nothing for us," the 86-year-old Thomson said, half ruefully.

Frank Phillips, who won the Australian Open in 1957 and 1961, wishes he could wind back the clock.

"It's just a matter of getting lucky at the right time and they're made," Phillips said.

"These days of course, the prize money is so big - it's enormous.

"I can remember John Senden winning a tournament in America and he got $1.6 million.

"I remember I rang Kel Nagle the next day. He (Senden) got as much money in one tournament as we both got in a lifetime.

"It would be great to be 25 again."

Jack Newton recalls collecting a cheque for 5000 pounds for losing the 1975 British Open in a playoff, while David Graham, the only Australian to win two major championships in the US, remembers a similar scenario.

"I can remember getting a pittance of an appearance fee and being crucified for getting five or 10,000 dollars.

"Now these guys get millions and nobody writes about it.

"It doesn't bother me, but I think as long as sponsors bring star power, the Australian Open will be a very, very successful viable tournament."