KC LLC has six months to complete due diligence for the sale of the city’s oldest golf course. A struggling economy and aging membership prompted the club to open its course to the public and close its restaurant to cut costs.
A group of investors known as KC LLC plans to buy the Country Club of Tuscaloosa (Ala.), Tuscaloosa News reported.
“A contract has been executed between the Country Club of Tuscaloosa and KC LLC,” said Tuscaloosa attorney Bart Adcox, who represents the buyers. “Under the contract, the buyers have six months to complete their due diligence before closing on the purchase, and that already is under way.”
During the due diligence period, the buyers will make sure that plans for the 116-acre and 18-hole golf course property are feasible, Tuscaloosa News reported.
Adcox said the investors include Tuscaloosans and people with ties to the area. They look to preserve the golf course and enhance the property to tie it into the ongoing riverfront development, though there are no definitive plans yet.
The Country Club of Tuscaloosa was founded in 1920 and is the city’s oldest golf course. The struggling economy and aging membership prompted the sale, Tuscaloosa News reported.
“We started talking to prospective buyers in February and then listed it for sale,” Bill Dobbs, President of the club’s Board of Directors, said. “We have lost a lot of members, and the membership we have could not sustain keeping it open.”
The club opened its links to the public in an effort to keep activity up, but it was not enough to make up for lost membership. The club closed its restaurant to cut costs as well, leaving its staff to focus on the course, Tuscaloosa News reported.
“The golf course is in better shape now than it has been in years,” Dobbs said. “It is in really nice shape. Our plans are to keep it open for play by members and the public during the due diligence, which could go into next year.”