Goodwood

[Arthur Dailey]

Thank you, wrong once again!

I long ago stopped counting how often I am incorrect.

[Mr22putt]

All I know is what a buddy tells me, he has been at GW for a long time, the email members recieved a few days ago wasn't very informative, it did say current members will be invited to join the new club provided they pay the new initiation which is rumored to be north of $300,000

The idea of a club swap plus cashfor Beacon Hall was a rumour from months ago, it seems very far fetched for that to happen,

Seems like the land swap scenario is likely not to occur.

I didn't do a deep drive on Harlo....seems like they often/if not always secure partnerships with developers??? (Harlo's executive team makeup is mostly bean counters and I didn't see any with development expertise) and Harlo is generally landlords of mostly residential structures and some commercial ventures too....and a key factor in their project determination/analysis is the proximity to transit infrastructures.

If they are targeting GW to run it as a private golf course...this seems odd vs. their current core competencies.
Maybe their partner is the one who has expertise in the golf industry.

FWIW.....You'll see some IRR's on two of their current/projected developments....both at 31% IRR...that's significant.

[bogey5]

Harlo has previously offered to buy Beacon for development but members voted it down.

Stollery's are now involved with Harlo as the Goodwood owner and have previoulsy put a land/course swap deal on the table as above between York Downs and Angus when they were a partner on YD development. Could they now partner with Harlo on developing Beacon down the road?

Rumours were that the no sale votes at Beacon didn't pass by huge margins. If true Harlo may not need a lot more votes to get a deal. So maybe having another top notch course for the club and some number of members to move to is the sweetener to get them the additional votes they need.

Or it could all be nonsense.

[High cut]

Harlo has previously offered to buy Beacon for development but members voted it down.

Stollery's are now involved with Harlo as the Goodwood owner and have previoulsy put a land/course swap deal on the table as above between York Downs and Angus when they were a partner on YD development. Could they now partner with Harlo on developing Beacon down the road?

Rumours were that the no sale votes at Beacon didn't pass by huge margins. If true Harlo may not need a lot more votes to get a deal. So maybe having another top notch course for the club and some number of members to move to is the sweetener to get them the additional votes they need.

Or it could all be nonsense.

Both could be true, from what I heard, you are correct it wasn't voted down by much of a margin.

[bogey5]

Both could be true, from what I heard, you are correct it wasn't voted down by much of a margin.

I think I heard fifth hand around 60% for and 66% is the threshold so could be as few as a dozen or so more votes needed. Lots of clubs have relocated over the years so maybe not too far fetched.

[kcirtap]

I heard split is new money (young, bankers, speculative) vs. old money (who don't need $1MM pre tax, that want their golf club.)
New GM plus plans to renovate clubhouse could be a poison pill....

[midlifecrisis]

I heard split is new money (young, bankers, speculative) vs. old money (who don't need $1MM pre tax, that want their golf club.)
New GM plus plans to renovate clubhouse could be a poison pill....

New money will prevail, ultimately. Just like at Osprey, lol.