Dundee United owner Mark Ogren has sold his luxury golf development near St Andrews in a multi-million-pound deal.
International firm Alvarez and Marsal bought the 241-acre Feddinch Mains site for £7 million on July 31.
And it has pledged to finally press ahead with plans for an 18-hole golf course to rival the Old Course.
A spokesman for Mr Ogren – who this week spoke to The Courier about his future as Tangerines owner – described his purchase of the site on the south side of the town in 2021 as “an opportunistic investment”.
He said: “It’s in an area that was close to what he was doing in Dundee with the football club.
“He’s happy to pass the project on to an excellent organisation who are going to take it to fruition with a fantastic new golf course.”
It’s hoped the purchase will end more than 20 years of uncertainty over the development of the Feddinch site.
Feddinch buyers have ‘very good track record’
The spokesman confirmed Mr Ogren had been trying to sell the land for some time.
He said: “It was important to Mark that he sold it to someone with experience and a legacy.
“It probably took longer to find a buyer because of that.
“The people who have bought it have a very good track record.”
Purchasers Alarez and Marsal, known as A&M Golf, already own Hogs Head Golf Club in Waterville, Ireland.
They invested £64 million in the venture, which now ranks in Golf Digest’s top 100 Irish golf courses.
And their other course in New Mexico is 55th in a list of America’s best public courses.
Contractors walked off ‘eyesore’ site in 2021
Mr Ogren’s investment company GPH Engineering bought Feddinch Golf Club two years ago.
They hoped to pick up where a failed £25m project, designed by Open champion Tom Weiskopf, left off in 2014
And plans were submitted for a clubhouse, golf accommodation, 39 luxury suites, a spa and restaurant.
However, the project ran into trouble when contractors downed tools amid claims they had not been paid.
Mr Ogren blamed the row on his Spanish business partner Hector Pous Rivero, who he claimed hired multiple contractors behind his back.
Later that year, Mr Ogren resigned from GPH Engineering, which has since dissolved.
But while he remained the sole owner, work never resumed and the site is described as an eyesore.
Plans for Feddinch golf resort include new name
Co-owner Tyler J. Kirsch confirmed the purchase and plans for a new name.
He said: “We will not be using the Feddinch name but have yet to settle on an official name as we have just begun our development plans.
“We will be referring to the property as A&M Fife in the interim.”
Mr Kirsch hopes to reveal more about the new proposals next week.
Meanwhile, North East Fife MP Wendy Chamberlain hopes the sale marks the start of a positive future for Feddinch.
She said: “The long-running saga of the undeveloped site at Feddinch has gone on far too long.
“The site has been an eyesore and I know it has been a source of inconvenience, frustration and real stress for many of my constituents who live around it.
“I have tried repeatedly to discuss the status of the site with the previous owner but he did not engage with me.
“I am looking forward to speaking to the new developers to understand their plans and what they will mean for the community.”
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