Stockholders of the struggling Perry Golf Club agreed Monday night to sell the facility to a Perry businessman.
The club agreed to sell the 18-hole, 6,465-yard, par-71 golf course with a clubhouse and pool at 1000 N. Davis Drive to Perry businessman Marty Myers, said Ronnie Bryant, the clubs board president.
It went very well, Bryant said after the meeting. I was extremely pleased.
Myers could not immediately be reached for comment.
The facility is owned by 350 shareholders who hold about 1,900 shares of stock. The vote was 666 shares to sell, with 13 shares voting against the sale, he said.
The closing is expected to take place this month, and Myers will lease and manage the 123-acre golf course until the closing.
Bryant recently sent a letter to the clubs stockholders calling for the meeting, saying the board was in the process of selling the property due to our current financial state. Bryant said the board would remain through the transition of the anticipated sale.
The golf course has been owned by a group of stockholders since 1951, which wasnt the best way to run a business, Bryant said.
We are run by a board of directors with two-year terms, he said. Our membership is down, with all the rain this year we didnt get the play to generate the income we needed to survive, and right now we just cant pay our bills.
Membership stands at about 120 people, he said, down from the clubs high of more than 400 members. The club was private until it went public more than a decade ago.
Since we couldnt survive, we hoped we could find someone who does know how to run a business to come out there and run it like its supposed to be and hopefully get it back on its feet, Bryant said.
Once the sale takes place, the current board and shareholders would no longer exist, he said.