(NEXSTAR) — The Masters at Augusta National, one of the most unique events in sports, has remained arguably the same since the first tournament in 1934.
The traditions that remain at Augusta to this day have made the tournament recognizable for even the most casual sports fans. From the caddies dressed in white and the beautiful azalea bushes flourishing all around, to the infamous no-cell-phones rule that every person in attendance must adhere to, the Masters is iconic.

But the tournament is perhaps best known for is its championship trophy: the green jacket, the most coveted prize in all of golf.
The idea for the jacket came from Augusta National Golf Club co-founder Bobby Jones, who was gifted a red jacket after winning The Open Championship at Royal Liverpool Club in 1930, according to the PGA.
Jones loved the idea so much that when August National opened in 1933, he pitched the idea of jackets for club members.
It wasn’t until 1949 that a green jacket was given to the winner of the Masters and a tradition began.

Costing about $250 to create, the jacket is a mix of wool and polyester in the trademark “Masters Green” with three gold buttons that feature the tournament signature logo. The same logo is also emblazoned just below the left breast pocket of the jacket.
Various sizes are ready and on hand for winners when they are gifted their green jacket by the previous year’s winner. The champion is then given the option to have the jacket custom-fitted for them specifically.
Repeat winners aren’t given a second green jacket; they are simply given their original green jacket again.

The current year’s winner is the only one who is allowed to wear their green jacket outside of the clubhouse — until the next tournament, that is.
Fifty-four different golfers have won the Masters since its inception in 1934, with Jack Nicklaus holding the record with six wins.