The Wichita, Kan., club has a letter of intent to sell to the Newport Beach, Calif.-based owner/operator. Under the agreement, Concert Golf would pay the club’s debt, freeze dues, eliminate assessments, pay for capital projects, and take over operations.
The Board of Directors at Crestview Country Club in Wichita, Kan., has informed members that it has a letter of intent to sell to Newport Beach, Calif.-based Concert Golf Partners, the Wichita (Kan.) Eagle reported.
“The country club business is a very difficult business to be in these days with declining membership, increased costs and difficult management issues,” an e-mail to the membership said. “In order to fix/improve our membership, food and beverage operations, debt and overall management issues, we were faced with a number of unpleasant decisions that needed to be made concerning limiting services and reducing overhead. That is until we contacted Concert Golf as another possible alternative.”
Club management did not return the Eagle’s calls for comment.
The e-mail said the Board has looked at options to keep the club “a 36 hole, full service private country club as we know and love today.” It further said that there is no binding agreement that the club has to sell to Concert Golf, the Eagle reported.
After a February presentation by Concert Golf chairman Peter Nanula, the Board said it unanimously decided the company “had great potential and some significant qualities that should be investigated,” the Eagle reported.
“Per the agreement, Concert Golf would pay off all our club’s debt, freeze dues for a period of time, eliminate assessments, pay for much needed capital projects and more importantly run the club the way a country club should be run in today’s market,” the e-mail read. “Their main goal is to maintain the country club culture as well as the private full service country club Crestview is known for. Your board believes Concert Golf Partners is by far the best company to run our club.”
The e-mail said there will be a series of town hall meetings with Nanula for members to find out more. If there is a deal, it could happen by early summer. The Board asked members “first and foremost to keep an open mind,” the Eagle reported.
“The Board of Directors truly believes this is a wonderful opportunity to make Crestview Country Club the best club in the area with a bright and robust future,” the e-mail said.
C&RB featured MacGregor Downs Country Club in Cary, N.C., a Concert Golf property, as the April 2016 cover feature (“Getting Back On Track at MacGregor Downs CC”).
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