Loch Lomond Golf Club has been successfully bought by its membership securing the future of one of Scotland’s most exclusive and renowned golfing facilities.
The cost of the transaction, by a consortium of members led by former industrialist and BAA chairman Sir Nigel Rudd, is undisclosed but thought to be in the region of £35m, with 800 members of the club staking a minimum of £20,000 each for the deal.
Membership of the ultra-exclusive club includes the Duke of York, Sir Sean Connery, Sir Jackie Stewart and leading golfers Sir Nick Faldo and Colin Montgomerie, who married his second wife Gaynor at the club three years ago.
On Monday, a statement from the club confirmed the purchase from the group of business recovery specialists who have been operating the club since the former owner, American property tycoon Lyle Andersen, defaulted on payments to creditor Bank of Scotland Corporate in 2008.
The deal, read the statement, “protects the jobs of around 100 full-time club employees and over 200 people from within the local community who are employed on a seasonal basis.
“The deal is also excellent news for many local companies who supply goods and services to the club throughout the year.”
Sir Nigel, who will chair the board of directors that will now run the club, said he was delighted the transaction was complete after a long and protracted process.
“Loch Lomond Golf Club is a very special place and our goal is to re-establish it as one of the foremost members’ clubs in the world,” he said.
“We intend to protect everything that is special about the club and our aim is very much to enhance the levels of service, friendliness and excellence for which the club is famed.”
“We have been encouraged by the tremendous support we have received from existing members to make this purchase possible.
“The deal includes the entire Loch Lomond estate including the course, host of the Scottish Open from 1997 until last year, the Rossdhu House clubhouse, spa and additional accommodation, as well as the “second” course owned by the club at Dundonald Links in Ayrshire.
Last week the European Tour confirmed the move of the Scottish Open to Castle Stuart Links near Inverness, with the new Loch Lomond management opting to concentrate on their membership for the forseeable future.