Is It Wrong To Have a Men's Only Club?

I'm kind of torn. 


I'm not into golf, but I heard that where the Masters is being played, the club there does not allow women to join. Now this club is facing a conundrum. 


It has always gave the main sponsor's CEO an honorary club membership. However, the main sponsor this year is IBM and its CEO is a woman. 


So what tradition will they break? 


Of course I believe in equal rights and opportunity for all, but I also understand that's it's OK to have your private groups as long as you are not spreading the attitude of discrimination. 


Women have exclusive groups that men are not allowed in and I'm sure there are race only groups as well as certain religious groups that allow only like minded members, so is it wrong to have a men's only group? 


Part of me hates it and part of me understands. 


I hate it because I shouldn't be excluded just because I'm a woman. What if I wasn't allowed to race?


And part of me understands the wanting to be exclusive and hold onto traditions as well as just having as good time with the "boys" since us "girls" do too sometimes.


What do you all think?