The 2016 Australian Masters has been canceled by tournament owner and operator IMG. The company said it is "reimagining" the event, and it expects to unveil plans for that reinvention later in 2016.
The Australian Masters, first played in 1979, is part of the Australian Triple Crown, which along with the Australian Open and Australian PGA Championship, comprise the three most important professional tournaments in the country. They're typically played in a month-long stretch each November and December.
In recent years, alcohol maker Talisker had been the title sponsor of the event.
Peter Senior won the event in 2015 and includes Tiger Woods, Adam Scott and Greg Norman among its winners.