Masters Tradition and Business Model Insights

The Masters tradition entails the previous winner choosing the menu for the participants, with the prior winner footing the bill. Augusta National leaves significant money on the table each year to maintain exclusivity and control over the tournament, particularly in media rights. The Masters' unique TV deal involves giving media rights to ESPN and CBS for free, allowing complete control over the broadcast, including advertiser selection and TV time. Moreover, unlike most golf clubs, Augusta National is registered as a for-profit corporation rather than a nonprofit.