In response to cash flow problems, the private Bristol, Conn., property’s members have discussed having a nearby club take over operations, selling ownership stakes, or selling the property to a developer.
Faced with a cash crunch and an aging membership, the private Chippanee Golf Club, founded in 1923, is searching for a way to survive, the Bristol (Conn.) Press reported.
The 140-acre Bristol, Conn., club, which has an 18-hole course, has tried unsuccessfully to address its growing financial difficulties. Six members who did not want to be identified said that a decision on the fate of the club is likely to be made within weeks, the Press reported.
Among the possibilities they say have been discussed are having a nearby club take control of its operations, selling ownership stakes in the club to individual members, or even selling the property to a developer, the Press reported.
The club’s president, Greg Boulanger, could not be reached by the Press for comment. He has not responded to telephone messages and emails seeking comment.
The club Marsh Road property is worth about $3 million, according to city assessment records. Thought the club with the secretary of the state since 1950, its current ownership is unclear. It apparently belongs to its members, the Press reported.
Several members said they were told to keep the club’s problems under wraps because publicity could hurt its chances of dealing with its money problems, including a hefty debt load, the Press reported.
The club can trace its roots to a May 23, 1923 session at the old Bristol National Bank Building at which 15 golfers met to discuss possible sites for a club. They recommended the purchase of Dunhurt, the country estate of Edward Dunbar on the top of Chippens Hill, which had a lovely view and a house that could be converted into a clubhouse, the Press reported.
By June, the club had officers and directors. A nine-hole course was designed by Herbert Lagerblade. During the 1950s, the private, family-oriented club added another nine holes to create a par-70 course with small greens and tight fairways, the Press reported.
Chippanee has been trying to lure younger people with discounted memberships and fee waivers, but those efforts haven’t offset the problems, the Press reported.
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