Golf fans are only just realising why Masters winner gets iconic green jacket

As one of the four major championships, winning the Masters is one of golf's most prestigious honours with only 54 players receiving the iconic green jacket presented to victors at Augusta.

The jacket is golf's most sought-after piece of fashion, with the one presented to inaugural Masters winner Horton Smith selling for a whopping $682,229 (around £550,000) in 2013.

Each year, previous Masters winners get together before the tournament for the Champions Dinner. The annual tradition honours the golfer who won last year's Masters and sees all those in attendance don their green jackets for a portrait.

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The jacket was first introduced in 1937, but the idea was first sparked in 1930 after American golfer Bobby Jones won the British Open and was invited to a players' reception by the Royal Liverpool Golf Club.

"The story goes that Jones was sitting next to a chap called Kenneth Stoker, who was captain of the club the year before," the club's historian Joe Pinnington told CNN in 2014. "All the captains were wearing their formal kit – the red coats that we have.

"Jones asked about it, was fascinated by it, and eventually Stoker said to him: 'Now look here Mr. Jones, if you win the tournament this week I'll give you my coat.' Of course Jones won and he got the coat."

Jones went on to found the Augusta National Golf Club in 1932 and hosted the first edition of the Masters in 1934. Three years later, Augusta members began wearing matching green jackets like the red ones worn by those at Royal Liverpool.

In 1949, Sam Snead was the first winner presented with a green jacket of his own and it was decided all previous winners would also be retroactively given one too. Now, there is a formal ceremony at each Masters, with the new champion being presented with their jacket by the previous year's winner.

Last year, Scottie Scheffler was given his jacket by Hediki Matsuyama. Each winner is allowed to take their jacket home for a year, before returning it at next year's Masters to display in the Champions Locker room.

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