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David Fields's picture
Joined: 10/14/2009
Posts: 177
Club Sale

Does anyone know the real status of the sale of the club?

Did Vince and friends sell the membership down the river.

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RM.com's picture
Joined: 06/19/2007
Posts: 27726
Club response on sale progress

For those who aren't aware, the club sent out its monthly GM Update to members Saturday, and it opened with this:

"Contrary to some recent comments, the closing is still in process with Mr. Husband and Bellagio Road. With any multimillion-dollar transaction that involves three parties, it became very complicated. We were trying to close on April 27th and were progressing toward that goal when it became clear one final issue could not be resolved in time to make that date. We have now implemented a 10-day extension that should provide necessary time to complete the sale. Yes, it is unfortunate, however, it is an important issue that is necessary for the long-term financial security and growth of the club and must be successfully resolved by all parties."

David Fields's picture
Joined: 10/14/2009
Posts: 177
Club Sale Update

Apparently Vince and the BoD did not perform their duties in the execution of the option to buy the Club from Sullivan and then the selling of the club to Hanson.

Wonder if the golfing members that are most likely to be hurt by the apparent failed sale would have a basis to sue for misfeasance.

Perhaps some of the many lawyers living in RM could post their take on the subject.

David Fields

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