The Masters Champion receives the first place prize money (2009- $1.35 million). They also receive the famous green jacket. A life time exemption to The Masters. A 5 year exemption to all majors. As well as a 5 year exemption to the PGA Tour.
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You win an Augusta Green Jacket which is kept by the winner for a year but then returned to Augusta for the owner to wear whenever they visit the club, usually for future masters tournaments they attend. You also receive a large silver trophy replica of the Augusta National Clubhouse. You may also win a crystal vase along the way for scoring a hole-in-one or albatross or a pair of crystal goblets for each eagle you receive.
In terms of money this changes depending on the size of the purse. In 2012 Bubba Watson won $1,440,000 (approx £920,000). But you would recieve alot of sponshorship bonuses as well.
In 2013 Masters Golf Tournament, Adam Scott got the prize money of $1,440,000. Each winner also received:
The winner of the US golf open in 2012 was Webb Simpson. In addition to the 1.4 million us dollar first prize money, the player is automatically invited to the other majors (the masters, the British Open, and the PGA Championship) for the next five years. The winner is also exempt from qualifying for the open for the next ten years. If the winner wasnt a member of the PGA tour, he has the option to join within 60 days of winning or prior to the start of any of the next five seasons.
There are about 10 things, not including the cash winnings. which include entries to major tournaments w/out having to qualify for them. This, among other like perks not afforded to other PGA players.
The first place prize cheque, a Green Jacket, a life time exemption to the Masters, and a five year exemption to all the Majors for the next 5 years.