Mark Calcavecchia and Woody Austin successfully beat out tournament host Greg Norman and teammate Bubba Watson by one stroke in the Merrill Lynch Shootout today to win the $3.2 million dollar prize. Calcavecchia and Austin had shot a stunning 12 under par 60 on Saturday leaving them with a two stroke lead over Norman and Watson.

The tournament, which took place at the Tiburon Golf Course designed by Norman, was played as a modified alternate shot format for the first round, a better ball format for the second round, and a scramble format in the final round, Calcavecchia and Austin shot a 9 under par 63 to give them a total 29 under par at 187 for the tournament. They have each won once on the U.S. tour during 2007.

Five teams shared in a third place victory including defending Australian champions Jerry Kelly and Rod Pampling. This is Mark Calcavecchia’s second win at the Merrill Lynch Shootout, his first being with Steve Elkington in 1995. Norman has played in the tournament every year since it began as the Shark Shootout in 1989, but has only won it once in 1998.