Business of Sport: Ace in the hole for the privileged few at Augusta

Already one of the most elitist institutions in American life, Augusta National Golf Club is spending tens of millions on making itself even more exclusive, writes Brian Keogh.

Bubba Watson in action at the US Masters this weekend: Augusta National is arguably the most picturesque golf course in the world. Picture: Getty

Augusta National, where the 78th US Masters will come to an end today, is a place of contrasts, a theatre of dreams and a stage for high drama and heart-rending tragedy. And that's just the golf.

Beneath the verdant green of the club founded 82 years ago by Bobby Jones and his friend Clifford Roberts lies enough technology to put Nasa to shame.

But behind closed doors, there's a multimillion-dollar financial machine humming ...