Member pays $2M for Colonial CC in Memphis

 

The original home of the FedEx St. Jude Classic has avoided foreclosure by turning over its deteriorating assets to a familiar face. Colonial Country Club, a century-old facility in suburban Memphis, Tennessee, is now controlled by James W. Russell, a long-time member who paid $2 million for 372 acres appraised at $3.6 million. Russell aims to restore Colonial’s fading reputation and polish its featured attractions, which include a Joe Finger-designed, 36-hole golf complex and a 40,000-square-foot clubhouse.

“Service and product – we are going to make that second to none,” he told the Memphis Commercial Appeal. “We want to offer a Mercedes,” he added, promising that the club would “not try to compete with everyone on price, but be very aggressive on the quality of our product.”

Russell’s bid for the club was endorsed by a unanimous vote.

Add new comment

By submitting this form, you accept the Mollom privacy policy.
If you enjoyed this article and would like to sign up for a FREE digital subscription, click here!