The majority of members of the Owen Sound Golf and Country Club want an investor to take over the operation — and there may be some interest locally.
As we first told you yesterday — the volunteer board of the not for profit club closed the course because it had run out of money.
Over 250 members attended a meeting on Wednesday night and they were asked whether they would pay more money — 25 hundred to 3 thousand dollars more — to re-open the golf course for the rest of the season.
Only a dozen people were interested in the idea — as some suggested it would just be good money chasing bad money.
It’s estimated it would cost another 250 to 300 thousand dollars to operate the golf course for the rest of the season.
The 91 year old club owes the Bank of Montreal 1.1 million dollars — and the bank could put the club into receivership as early as today.
Board President Bob Nicol tells Bayshore Broadcasting News he has received calls from people who have inquired about purchasing the golf course.
Member Rob Dutton feels they need a good investor because it takes a significant amount of money to operate a golf course — and he believes there is some interest locally.
Member Ross Weber of Waterloo says it’s too difficult to run a golf course in these tough times with a volunteer board — and they need an entrepreneur.
There is some debate as to how to find a new investor for the historic club.
Nicol feels the board can work with the Bank of Montreal in securing an investor.
But some members suggest letting the golf club go into receivership to allow the course to re-open while looking for a new owner.
The members heard at last night’s meetings that the greens would get in very poor shape after a week of no maintenance.
About 40 employees at the Owen Sound Golf and Country Club received their final paycheques this week — and the board hopes the bank will clear the cheques.
Nicol says they have also had some suppliers come back for their product to credit the golf club.
Nicol points out the Golf Club has been losing money for five years now as its membership has dropped from 700 to more than 300 people in 10 years.
