Former Manchester United manager Sir Alex Ferguson revealed to the new Masters champion Danny Willett that he lost £8,000 betting on Jordan Spieth to win at Augusta National.
The Scotsman, who retired from management in 2013, was in Georgia on Sunday to watch the final round of the Major.
Spieth had a five-shot lead heading into the back nine but he imploded, allowing Willett to rise up and claim a three-shot victory.
During the celebrations, the BBC caught Ferguson on video telling Willett that he bet the large sum on last year's winner Spieth, which prompted the new champion to apologise.
Ferguson then said: "I'm so delighted. I'm so delighted honestly. Happy to throw it away."
Willett, who is a Liverpool supporter, replied: "You need to know where to put your money!"
The result marks the first time in 20 years that an Englishman has won the green jacket.
