Years, if one side wants out, is that enough to trip the agreement? MyPhillyGolf: Th future of the golf course is ensured at least for Right now, I think we are best focused on the elements of the deal that matterĪnd on working in tandem to make them successful. Would have to be dealt with at the board level. What RAM would like to do and what the existing members, who are still the Happens if two or three or five years down the road a dispute arises between Muller: Well, the board remains in control. Long-term lease like this, they are not actually buying the club, but they It in the area but I don’t think any that have the geographics and demographics This thing, because the multi-club solution deserves a real good test. Probably safe to say it is similar to the lease they have in place at Yardley and that’s a big component of Kinds are Job One and will be commenced immediately. They will, in turn, do what they do to make theĬlub successful obviously recruiting members, outings, family events of all Each one has an option on both partiesĮssence of the business deal is that we will be leasing the club to RAM for a fee that will cover ourĭebt. Muller: The terms call for basically a long-termĪre three components to it, each seven years in length. Paul Muller: Yeah, it is big step forward for the MyPhillyGolf: It sounds like congratulations are in order. Earlier interview with Muller here.įollowing is a Q & A I had with Muller late Friday afternoon: Instead of a buyer, LuLu found a financial lifeline in RAM, which Mullerĭescribed as a "boutique" firm owned and run by a small partnership of golfīackground stories here, here and here. January that the club, closed for winter, might not reopen in the spring, if no The oldest Donald Ross-designed course (1912) in Philadelphia, the deal did notĮquity members, and saddled with $2.2 million in debt and a clubhouse badly in "It is a big step forward for the club," LuLu president Paul Muller said Friday afternoon. LuLu and Yardley will become, in effect, sister clubs, with members holding Management, a Florida company that also been managing Yardley Country Club since March. The prospect of financial collapse, on Thursday agreed to a long-term lease The 100-year-old club, which had been facing The deal to save LuLu Country Club is done.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |