Deal for last 2 GTA courses reached

Golf Trust of America, a former real estate investment trust that once owned 47 golf courses in 17 states, has reached an agreement to sell the final two properties in its portfolio.

Under terms of the deal, expected to be finalized in late January, WildeWood Farms Country Club and The Country Club at Woodcreek Farms, will be purchased by the members for a reported $4.1 million. The two courses are located in Elgin, S.C.

GTA in July 2007 sold its largest property, the Innisbrook Resort in Palm Harbor, Fla., to Salamander Hospitality for an estimated $35 million.

Running Horse developer's death under investigation

Authorities in Fresno, Calif., are still investigating the death of one of the developers of the controversial Running Horse Golf Club project.

The body of Scott Webb, 46, was found in a Fresno-area motel in September. A spokesman for the Fresno County coroner said it did not appear that foul play was involved, though no cause of death was immediately released.

TaylorMade-adidas still faces buyout hurdles

A bid by TaylorMade-adidas Golf to purchase golf apparel maker Ashworth for $26.5 million in cash and assumption of  $46.3 million in debt still may run into roadblocks.

While the buyout  has the approval of  Ashworth's board of directors and by its largest shareholder, Knightspoint Partners of New York, which owns 16 percent of Ashworth stock, other shareholders may balk at the $1.90 per share purchase price, analysts said. The shares were trading as high as $3.75 per share two weeks prior to the Oct. 13 sale announcement.

Casper, East West, Troon sign management deals

Billy Casper Golf, East West Partners and Troon Golf all recently finalized new management deals.

The Longaberger Co. named Casper to manage its Longaberger Golf Club in Licking County, Ohio.

The public course, which was designed by Arthur Hills and opened in 1999 was ranked number 57 in Golf Magazine's Top 100 You Can Play list, and tabbed as the number one public course in Ohio in this year's Golf Digest rankings.

European environmental group changes name

A nonprofit organization founded to promote environmentally friendly practices within the golf industry has changed its name and updated its mission.

The Golf Environment Europe now is known as the Golf Environment Organisation (GEO).

After an in-depth review of the activities of the organization, officials decided that a new brand and revamped organizational structure would allow GEO to work more closely with other golf industry organizations to promote environmental sustainability.  

Tiger Woods unveils 3rd course design project

Tiger Woods and development partner The Flagship Group announced plans in October for Woods' third course design project.

Punta Brava, a private golf and ocean club on the Mexican coast near Ensenada, will be the first oceanfront design for the world's No. 1 player.

As an architect, Woods currently has two courses in the works, a mountain-top design for The Cliffs Communities near Asheville, N.C., and Al-Ruwayah Golf Club in the Tiger Woods Dubai development in the United Arab Emirates.


Subscribe to Golf Inc. Magazine RSS