Loch Lomond Golf Club not yet sold

The debt ridden Loch Lomond Golf Club, with running costs reported at £10 million per annum, is hosting the  Barclay’s Scottish Open as usual in early July.

With its American owner, Lyle Anderson, unable to renegotiate its debt with HBOS, the bank took over the club in 2007 and has since received a series of unsolicited offers for it.

The collapse of the financial institutions in 2008 and the consequent recession have made their presence felt and the Club has been cutting staff and closing the course over the winder to try to reduce its running costs.

A serious potential buyer emerged and a sale for £100 million was expected to have been announced on Tuesday (11th May). This did not materialise although sources say that this deal may still  complete in the near future.

As knowledge of the club’s plight became public knowledge in 2007, the clubs 800 members considered a buy out to keep it in their control but decided not to proceed.

In the meantime the club remains on the market. The joining fee is half of many MPs annual expenses – £75,000. There is the annual membership fee to be paid after that. As they say, if you have to ask…

The course, like many, has suffered the impact of the prolonged sub-zero six weeks over and after Christmas 2002 and into February 2010. The greens have been closed this month to let them regrow after enduring something like ten inches of ice.

While the greens are slowly brought back to life and the ownership of the club remains in limbo, the Barclay’s Scottish Open, the highlight of the Club’s year, is not under threat from either.