The lurid gold jacket has been a part of the Australian sporting landscape for more than 30 years but the Australian Masters now faces an uncertain future after -officials decided to cancel this year's event as they look to reinvigorate the tournament. 
Tournament promoters IMG yesterday announced the 2016 event had been scrapped as they begin a process of "reimagining" the event, their long-term goal to return the Masters to its halcyon days.
At its peak, the tournament was won six times by Greg Norman. The trophy was also engraved with the names of Justin Rose, Adam Scott, Colin Montgomerie and Tiger Woods.
"As part of IMG's ongoing evolution of its golf events business, the company is in the process of reimagining its Australian Masters event to ensure the delivery of a world-class experience," IMG Australia and New Zealand vice president-director of golf David Rollo said.
"IMG will unveil its new plans for the event in the coming months."The Masters' temporary demise comes as Australian golf enjoys a halcyon period of its own, with Jason Day and Adam Scott currently dining out on the US PGA Tour.