Augusta National Foreclosure Letter Up For Auction

Appropriately, at Green Jacket auctions and this is the first time it's been seen publicly.

You have until January 12th to figure out how to outbid the mystery man whose IP address is strategically based out of a law office in a city other than Augusta, Georgia.

According to this letter, due to the Great Depression, that new entity could not met its obligations. Therefore, even after the 1934 and 1935 Masters Tournaments were held (then-called the Augusta National Invitation Tournament), the Fruitland Manor Corporation went through foreclosure. The land, which now contained the Augusta National golf course, was purchased at the foreclosure sale to ensure the survival of the course and Augusta National Golf Club, and a new entity was formed - The Augusta National, Inc. This letter to the creditors of Augusta National is from Augusta National's attorney. It relays the above-mentioned events, and goes on to give Augusta National's creditors a one-time option (to expire 3 weeks later) to accept Class B stock in The Augusta National, Inc. or to forever relinquish any right as creditor (due to the foreclosure).