Interesting indeed. Many golf courses ran into difficulties getting US-based financing as the “old” rules of multiple years of revenue were evacuated back in the 2009-2011 timeline. That meant that funding for courses started to require larger equity positions by their owners. Many sold to overseas investors because in many cases they were still able to get the higher multiple valuations from them.
It looks like there is concern that problems with an overseas entity is now shinning the searchlight on a chunk of very well respected courses in the Myrtle area. It’s good to see that Mr. Mayes is now in control of the daily operations of those courses and that they will continue to operate as they have been. As such, I don’t see this impacting our event but they will have to work through the legalities over the next few years to straighten out who owns what.