- July 30, 2017 at 9:59 pm #38943July 30, 2017 at 10:01 pm #38944August 1, 2017 at 3:50 pm #39042Jay SeifertParticipant
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.August 2, 2017 at 12:32 am #39065
Thanks Jay,I have heard that these courses could be impacted during WA play.August 9, 2017 at 10:38 am #39180Wayne RhodesParticipant
As a resident of MB for the past 13 years — and playing in the World Am long before I moved here — it seems pretty clear that most courses retain their essential character even though ownership and management may change. There are exceptions, of course.
I wouldn’t, therefore, expect any of the recent confusion and controversy to have any effect on the courses to be played in the World Am.
As noted, Steve Mays has been named acting president. Steve was in charge of the World Am for many, many years. He’s a very experienced, trusted and competent fellow.August 9, 2017 at 1:43 pm #39184Rick KimbrellParticipant
Well said Wayne. I have the utmost respect for Steve Mays and I don’t think anyone playing in the World Am has to worry about the issues facing these courses caught up in this ownership mess.
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