Loch Lomond Golf Club now run by HBOS and looking for new owner

Lyle Anderson, American owner of Argyll’s uber-exclusive Loch Lomond Golf Club has asked the Bank of Scotland to take over the running of the club as £40 million of members’ fees was threatened by imminent receivership. The Bank now has a management team running the club.

It is feared that the Loch Lomond club’s debts may be around £100 million. It’s annual loss quadrupled this year to over £19 million. While the bank and Mr Anderson search for a suitable buyer for the ]club, it is not certain how long it can continue to operate without financial backing. A major concern is the future of the club’s hosting of the annual Scottish Open.

Leisurecorp, a subsidiary of Dubai World, is thought to be interested in acquiring the Loch Lomond Club on behalf of its parent company which bought Turnberry for over £55 million earlier this year. Representatives from the company are known to have visited Loch Lomond this summer, just after the Turnberry acquisition. Dubai World is valued at over £50 billion and owned by Dubai’s ruler, Sheikh Mohammed bin Rashid Al Maktoum.

For Argyll has reported before – and in the Golf For Argyll blog, on the growing troubles of the Loch Lomond Course.