Bruce Cassidy Sr. and his Excel Golf family partnership have agreed to purchase a majority interest in The Concession, a private residential club in Bradenton, Fla.
Designed by Jack Nicklaus in association with Tony Jacklin, The Concession is named for the famous two-foot putt that Nicklaus conceded to Jacklin, allowing the 1969 Ryder Cup to end in a tie.
Cassidy and Excel Golf have been involved in The Concession since 2008, when his investment helped fund the construction of the 33,000-square-foot clubhouse scheduled to open this fall. No sale price was disclosed.
Cassidy’s investment is strictly in The Concession Golf Club, not the surrounding residential development owned by The Concession Land Development that recently was placed into foreclosure by lender Wachovia Bank.
Kevin Daves, who owns Core Development, the owner of The Concession Land Development, will retain a minority interest in the golf operation.